PHDCCI has suggested 10 focus areas and action points for the 100-day agenda of the new Modi-led Government at the Centre, including kick-starting employment creation.
Noting that India holds the potential to create more than ten crore jobs by 2030, PHDCCI has called for a formulation of a National Employment Policy (NEP) in the first 100 days to help the youth of the country gain productive employment in the world’s fastest-growing large economy.
Sanjeev Agrawal, president of PHDCCI, said the ten crucial action points are employment creation, double-digit growth in manufacturing, strengthening exports trajectory, state-of-the-art infrastructure in tier-2 and tier-3 cities, policy to strengthen the farm sector, addressing inflation escalations, enhancing the digital economy, strengthening women’s empowerment, inclusive health infrastructure, and dedicated environment protection.
“We suggest a roadmap for creating more than 10 crore jobs by 2030 in many segments including MSMEs, large conglomerates and start-ups,” Agrawal added.
The new Industrial Policy is needed at this juncture to strengthen industrial development and employment creation in the country, Agrawal added.
The size of the economy is expected to be $7 trillion by 2030 from $3.7 trillion in FY24, and this new addition of more than $3 trillion in the next six years will create tremendous avenues for employment creation in the country in the coming times, he said.
Agrawal said the government should ensure a policy to strengthen the farm sector, as it will drive the futuristic demand trajectory and enhance domestic consumption, factory expansion, and employment creation.
The government should strategise in its first 100 days to mitigate inflation escalations by facilitating seamless connectivity between farmers, mandis, and consumers. Moreover, price escalations should be managed by smoothing supply chains, controlling hoarding of food items, and bringing petroleum products under the ambit of GST, said Agrawal.
“In our 10-points agenda for the first 100 days, we recommend that the government should formulate a strategy to boost the digital economy and enhance cyber security in the era of emerging AI led technologies,” said Agrawal.
PHDCCI has also recommended developing a blueprint to strengthen the shift to a Green Accounting system. Agrawal said that this new accounting approach will further boost India’s sustainable economic growth and facilitate reducing India’s global carbon footprinta.