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India faces the challenge of creating formal jobs and migrating people from the informal to the formal sector, said N Chandrasekaran, chairman, Tata Sons.He pointed out that creating jobs in the formal sector is a bigger problem than lack of jobs.
The problem, he added, arises from the lack of access to services, including healthcare, education and financial services. Therefore, if the accessibility part is addressed effectively by going digital, it will lead to more jobs.
Chairman of the $103 billion conglomerate, the largest employer in the private sector, he was addressing delegates from technology start-ups and the information technology sector at Mumbai’s TiECON, an annual flagship event.
With the theme “unexplored,” the two-day conference is expected to be attended by over 2,000 delegates, including over 500 investors as well as more than 750 high potential start-ups. “It’s not so much about lack of jobs. We have jobs. The challenge is of creating formal jobs and migrating people from informal to formal, getting them jobs that offers decent pay. That’s the fundamental problem and requires lot more thinking,” said Chandrasekaran.
His comments come amid recent reports of the unemployment rate in India rising to a 45-year high of 6.1 per cent in 2017-18...Read More
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