India has potential to create over 10 crore new jobs by 2030: PHDCCI

New Delhi: India holds the potential to create more than 10 crore new jobs by 2030, as the economy is likely to add $3.3 trillion to the GDP by the same time frame, industry body PHD Chamber of Commerce and Industry (PHDCCI) said on Tuesday.

The industry chamber suggested 10 crucial points for the 100-day agenda of the new government.

It includes employment creation, double-digit growth in manufacturing, strengthening exports trajectory, state-of-the-art infrastructure in Tier-2 and Tier-3 cities, policy to strengthen farm sector, addressing inflation escalations, enhancing digital economy, strengthening women empowerment, inclusive health infrastructure and dedicated environment protection.

Amid the growing geopolitical distress and uncertain global economic environment, India grew more than 8 per cent (average) during FY 2022 to FY 2024.

“We suggest a roadmap for creating more than 10 crore jobs by 2030 in many segments including MSMEs, large conglomerates and startups,” said Sanjeev Agrawal, President, PHDCCI.

The post pandemic high growth trajectory has created avenues for crores of jobs in the coming years.

“We suggest boosting manufacturing growth to double digits by percolating Ease of Doing Business at the factory level and reducing the cost of doing business,” Agrawal noted.

The new industrial policy is needed at this juncture to strengthen industrial development and employment creation in the country.

In the suggested agenda, the chamber recommended that the government focus on 75 products to strengthen India’s export trajectory and increase its share in global exports.

“These 75 products will be crucial to achieve the trajectory of $2 trillion exports by 2030,” said Agrawal.

The government, in the first 100 days, should focus on strategising on a state-of-the-art infrastructure policy for Tier-2 and Tier-3 cities along with the development of rural infrastructure and modernisation of villages with adequate facilitation of public utilities, according to the agenda.

“We recommend that the government formulate a strategy to boost the digital economy and enhance cyber security in the era of emerging AI-led technologies,” it added.