New Delhi
Chief Economic Advisor (CEA) V Anant Nageswaran, Government of India, has said that India will have to create at least 80 lakh jobs per year for the next 10-12 years to achieve the goal of becoming a developed country by 2047 and will have to increase the share of manufacturing in gross domestic product (GDP).
Nagswaran said here, “Our approach is to achieve the goal of ‘developed India’ by 2047. The biggest challenge besides the size of India is that the external environment is not going to be as favorable for the next 10-20 years as it would have been in the last 30 years since 1990.”
He said, “But in this context it is certain that you cannot choose your external environment beyond a limit – we have to create 80 lakh jobs per year for at least 10 to 12 years and increase the share of manufacturing in GDP.
Nageswararan was addressing the ‘Columbia Bharat Summit-2025’ organized by ‘Deepak and Neera Raj Center’ on Indian economic policies at the ‘School of International and Public Affairs’ at Columbia University.
He said that artificial intelligence (AI), technology and robotics are challenges that some developed countries are not facing their growth journey.
He said, “… But India will have to deal with this huge, complex challenge according to its size and there is no easy answer to this. If you see the number of jobs that we need to create, it is about 80 lakh jobs every year.… And AI may have a big role in eliminating the initial level jobs, or may be in danger.