INSUBCONTINENT EXCLUSIVE:
N Chandrasekaran, Chairman, TCS3 min read Last Updated : Oct 15 2024 | 12:05 PM IST
The Tata Group will create 500,000 manufacturing jobs
over the next five years across sectors such as semiconductors, electric vehicles (EVs), batteries, and related industries, Chairman N
Chandrasekaran said on Tuesday
Speaking at a symposium organised by the Indian Foundation for Quality Management, Chandrasekaran highlighted the crucial role of
He noted that around one million people enter the workforce in India every month, making job creation in manufacturing essential for the
manufacturing, assembly, electric vehicles, batteries, and related industries, I think we will create five lakh [500,000] manufacturing jobs
other manufacturing units for EVs and batteries
The Tata Group Chairman acknowledged that while the full details of these initiatives are still being worked out, preliminary calculations
suggest that these investments will have a multiplier effect, creating more work opportunities
He added that the manufacturing ecosystem is likely to see the emergence of around 500,000 small and medium enterprises
(SMEs).
Chandrasekaran also stressed the importance of job creation in India, particularly in sectors like semiconductor manufacturing,
manufacturing sector growth in FY23
In the financial year that ended on March 31, 2024 (FY23), India's manufacturing sector saw a 7.4 per
cent rise in employment, with 1.3 million new jobs created, up from 1.1 million in FY22
According to data from the National Statistical Organisation (NSO), as reported by Business Standard, this growth has been driven by a
industrial output surged by 21.5 per cent, reaching Rs 144.86 trillion during FY23
Maharashtra led in GVA contributions from manufacturing, followed by Gujarat, Tamil Nadu, Karnataka, and Uttar Pradesh
manufacturing sector also saw a rise, increasing by 6.3 per cent to Rs 3.46 lakh per annum in FY23, compared to Rs 3.25 lakh in the previous
year.
India's manufacturing Purchasing Managers Index (PMI) reached a 16-year high of 59.1 in March this year
A PMI above 50 represents expansion in a sector, while anything less generally indicates a contraction
Although expansion has slowed, with August recording a PMI of 57.5, it remains well above the 50-mark.(With agency inputs)First Published:
Oct 15 2024 | 12:05 PMIST
