Economic Survey 2020: CEA Subramanian’s mantra to boost exports; assemble in India for world

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Updated: January 31, 2020 2:46 PM

Economic Survey 2020: The survey draws a comparison with China which in the period 2001-2006 produced 70 million jobs in labour-intensive export-based industries.

economic survey 2020 in hindi economic survey latest updates in hindi budget 2020 in hindiEconomic Survey 2020: The survey draws a comparison with China which in the period 2001-2006 produced 70 million jobs in labour-intensive export-based industries.

Economic Survey 2020: Integrating ‘Assemble in India’ with the Modi government’s flagship ‘Make in India’ programme could produce new jobs and boost exports, according to the Economic Survey 2020 authored by Chief Economic Adviser K V Subramanian. The survey was tabled by Finance Minister Nirmala Sitharaman in the parliament on Friday. The share of the export market could rise to nearly 3.5 per cent by 2025 and 6 per cent by 2030 through ‘assemble in India’ initiative. India, in the process, could create about 4 crore well-paid jobs by 2025 and about 8 crore by 2030, the Economic Survey 2020 also said.

The survey draws a comparison with China which in the period 2001-2006 produced 70 million jobs in labour-intensive export-based industries. The survey pitches for focus on industries whose production process is globally fragmented in different parts of the world. China’s remarkable export performance vis-a-vis India is driven primarily by deliberate specialisation at a large scale in labour-intensive activities, according to the survey.

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The trend of importing parts of a product and then assembling it into a finished product has caught uptrend in India especially in the mobile phone industry. India’s mobile phones import from China declined from $4.47 billion in 2013 to $3.31 billion in 2017, according to government data. However, at the same time, the import of mobile phone parts in the same period increased from $1.34 billion to a whopping 9.41 billion.‘Make in India’ programme was launched by the Modi government in September 2014 to encourage foreign companies to manufacture their products in India and export them to the world markets. The government zeroed in 25 manufacturing sectors that could bring new jobs for the burgeoning young population of the country. The scheme aimed at increasing the share of manufacturing in the GDP to 25 per cent and the generation of 10 crore new jobs by the year 2022.

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