Textiles, apparel, and hospitality are poised for significant job growth by 2030, fueled by increased investment, a new report reveals. While manufacturing and services will also contribute, the focus is on boosting stable, salaried positions. The think tank urges a strategic approach, emphasizing skill development and addressing the informal sector’s dominance to enhance labor absorption and drive economic expansion. Textiles, apparel, and hospitality are poised for significant job growth by 2030, fueled by increased investment, a new report reveals. While manufacturing and services will also contribute, the focus is on boosting stable, salaried positions. The think tank urges a strategic approach, emphasizing skill development and addressing the informal sector’s dominance to enhance labor absorption and drive economic expansion. NEW DELHI: Textiles, apparel and hospitality could generate the strongest job growth by 2030, driven by higher investment in these sectors, according to a new report by economic policy think tank NCAER, which also called for measures to remove bottlenecks for faster expansion.Moderate growth in manufacturing and services output could raise jobs in textiles, garments and related industries by 53%, and employment in trade, hotels and similar services by 79% by 2030. While the economy displayed robust expansion in recent times, the report stated job quality did not keep pace as most employment gains came from self-employment (largely in agriculture) rather than from stable, salaried work.”India’s employment strategy must go beyond setting aggregrate growth target to attaining calibrated mix of demand side and supply side measures that directly incentivise labour absorption,” it said.On the supply side, it called for skill development through strengthened vocational programmes, credit portability to allow students to move across institutions, deeper industry partnerships and more investment in training quality.It stated India’s labour force participation rate of about 50% was low compared to other nations with the same income level, and a major challenge for growth was dominance of the informal sector.End of ArticleFollow Us On Social MediaVideosJinnah To Nehru: Top Moments From Heated Vande Mataram Debate In Parliament Winter Session22 Feared Dead As Truck Falls Into Gorge In Arunachal Pradesh’Warm And Engaging’: PM Modi Holds Phone Call With Trump Amid Trade Talks, US-India Ties Discussed’If They’re Happy, They Should Sign’: Goyal Responds To USTR’s ‘Best Offer Ever From India’ RemarkHow Bangladesh’s Feb 12 Vote Could Reshape India’s Northeast Access And Regional Power BalanceBJP Charges TMC MP of Smoking Inside Parliament After Giriraj-Sougata Face-off Over E-CigaretteExplained: Did Mexico Follow Trump’s Footsteps To Slap Tariff on India? Impact on Indian TradersKharge Hits Back As JP Nadda Slams Nehru, Congress Over Vande Mataram In Rajya SabhaSouth Asian Bloc Minus India? Why Pak’s Fresh Regional Pitch Fails On Economics, Politics, Geography‘Hands Were Trembling’: Rahul Gandhi Takes Sharp Dig At Amit Shah Over Ls Address123PhotostoriesAkhanda, Narasimha Naidu and more: Nandamuri Balakrishna’s biggest box office blockbusters ahead of ‘Akhanda 2’ releaseHappy 75th Birthday Rajinikanth: Lesser known facts of the superstarLesser-known facts about South superstar Venkatesh Daggubati10 South Indian Rasams to keep warm during the winter seasonExclusive – Bigg Boss 19 winner Gaurav Khanna on Salman Khan’s film offer, Anupamaa co-star Rupali Ganguly’s support, and how he plans to use his prize moneyLessons only a father can teach his daughter5 love quotes by Ravinder Singh in their most raw and beautiful wordsUltimate caregivers: 5 animals that die after giving birth to their youngSHE Travels: 7 road trips in India every woman who loves driving should experience onceNick Jonas’ journey with type 1 diabetes for two decades: Early signs to spot the disease123Hot PicksUS Pakistan DealTrump Gold CardSpiceJet FlightGold rate todaySilver rate todayPublic Holidays NovemberBank Holidays NovemberTop TrendingSherrone MooreIsaiah RiderStephen CurryNBA InjuryLebron JamesOlivia DunneTroy AikmanBengaluru CrimePaige Shiver Net WorthJeff Shiver
NEW DELHI: Textiles, apparel and hospitality could generate the strongest job growth by 2030, driven by higher investment in these sectors, according to a new report by economic policy think tank NCAER, which also called for measures to remove bottlenecks for faster expansion.Moderate growth in manufacturing and services output could raise jobs in textiles, garments and related industries by 53%, and employment in trade, hotels and similar services by 79% by 2030. While the economy displayed robust expansion in recent times, the report stated job quality did not keep pace as most employment gains came from self-employment (largely in agriculture) rather than from stable, salaried work.“India’s employment strategy must go beyond setting aggregrate growth target to attaining calibrated mix of demand side and supply side measures that directly incentivise labour absorption,” it said.On the supply side, it called for skill development through strengthened vocational programmes, credit portability to allow students to move across institutions, deeper industry partnerships and more investment in training quality.It stated India’s labour force participation rate of about 50% was low compared to other nations with the same income level, and a major challenge for growth was dominance of the informal sector.
