India’s focus on expanding manufacturing sector key to create more formal, quality jobs ...Middle East

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India’s focus on expanding manufacturing sector key to create more formal, quality jobs
New Delhi:  India will need more formal and quality jobs to ensure better income distribution as it becomes a $5 trillion economy in the medium term and advances toward its long-term goal of embodying Viksit Bharat or a fully developed nation by 2047, according to a new report. The government’s focus on expanding the manufacturing sector is critical, as transitioning workers into this sector increases the likelihood of securing formal employment, given that 51.4 per cent of manufacturing jobs are salaried ones, according to a Deloitte report. This shift will significantly enhance income stability for those currently lacking regular wages or social security, particularly in rural areas. More

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