Crisis is deep and recovery wobbly: Sharma
“The crisis is deep and recovery difficult in its fifth year. It is in the form of inflation, flow of capital, energy and food security. The truth is that recovery is wobbly and uneven,” Sharma said while inuagurating the CII Global Partnership Summit 2013 here.
Highlighting that unemployment is also a fall out of the crisis, Sharma said that of the global labour force of 3.3 billion, 200 million people are unemployed and over the next decade, around 400 million people would enter the labour market.
“Countries like India will see 250 million additional job seekers in the next 15 years as they shift from the rural economy towards urban industrial activity. There is a serious challenge for policy makers to provide enough jobs in the manufacturing and services industry to absorb these people and to impart adequate skill sets to make them employable,’’ he said.
In fact, the commerce ministry’s National Manufacturing Policy which aims to setup National Investment and Manufacturing Zones (NIMZ) in the country, seeks to increase the share of the sector to at least 25 % by 2020 from the present 16% besides creating 100 million jobs by 2020.
While seeking regional and global partnerships to counter the challenges, Sharma said: “It is difficult to explain why
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