The creation of sustainable employment is the need of the day, said Mr N. R. Narayana Murthy, Chairman Emeritus of Infosys, at the Global Investors’ Meet 2012 today.

Currently, about 40 million people are unemployed. The problem needs immediate attention and should be addressed with the view to encourage growth and develop a sustainable economy, he added.

“To increase share of GDP, we need to create 10 crore (100 million) jobs in the next decade. For job creation, three areas need to be given attention — investment, exports, in addition to domestic consumption will encourage a diversified industrial base.

In a country where unemployment is a major problem, employment generation by encouraging investments is important.

Mr Murthy said in order to address the 40 million unemployed youth, about 10 crore jobs need to be created in the next decade, especially in the light of a slowdown in the economy.

Pointing out that growth in the State has moved beyond IT and Bangalore, he said Tier-2 and Tier-3 cities will play a major role in encouraging investment. Infrastructure, however, needs to be enhanced in the State, Mr Murthy said.

The second edition of Karnataka’s Global Investors’ Meet has drawn a good response from India Inc.

The State has attracted 80 companies from Japan, Mexico, Bavaria (Germany), Rawanda, the UK, and a few top companies from the US.

Prominent among the attendees include Mr Kumaramangalam Birla, CMD, Aditya Birla Group; Mr N. R. Narayana Murthy, former CEO and co-founder, Infosys; Mr Sajjan Jindal, Chairman, JSW Group; Mr B. N. Kalyani, CMD, Bharat Forge; and Mr B. Muthuraman, Vice-Chairman, Tata Steel.

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