Despite India’s economic progress, job scarcity remains a major challenge for its vast population. A recent study indicates India must generate 115 million jobs by 2030 to accommodate both underutilized existing labor and the incoming workforce.

Real Research, an online survey app, conducted a study and found out that a majority (61.82%) were aware of India’s employment crisis, leaving the rest (38.18%) unaware.

Key Findings:

  • Over half think India’s target of creating 16.5 million jobs yearly is a tough challenge but feasible.
  • Even though India’s economy is doing well, over 60% of those surveyed are worried about unemployment.
  • Nearly 60% believe India can actually create the massive amount of jobs they need by 2030.

Is the Job Target Realistic?

Indias-target-of-creating-16.5-million-jobs
Figure 1: Is India’s target of creating 16.5 million jobs yearly feasible?

According to senior economist Trinh Nguyen, India will need to generate 16.5 million jobs each year, up from 12.4 million annually in the last decade, to achieve 115 million jobs by 2030. This significant increase is a response to India’s employment crisis, which many (55.24%) found challenging but possible to address. 29.44% believe it is achievable, while 15.32% think otherwise.

Read Also: Nearly 70% Support Training Immigrants to Boost U.S. Job Market Contributions

Growing Economy, But High Unemployment?

India’s GDP, which is Asia’s third-largest economy, is expected to grow more than 7% this year. Despite this, India’s employment crisis persists, with 62% of respondents worried about India’s unemployment rate.

Indias-unemployment-rate
Figure 2: Percentage of respondents concerned about India’s unemployment rate.

The pressure, however, is on Prime Minister Narendra Modi, who faces criticism regarding job creation.  According to him, the government has adopted a “comprehensive, multi-sectoral approach” to attract the world’s best opportunities to India. While over half (58%) believe the government is making efforts, 42% remain unconvinced.

Read Also: Nearly 70% Support Training Immigrants to Boost U.S. Job Market Contributions

Can India Create 115 Million Jobs?

India’s services sector, which comprises more than half of the country’s GDP, has limited potential in terms of employment opportunities. To address India’s employment crisis, the study suggests that India should leverage its manufacturing sector to compete with other countries diversifying from a China-centric supply chain.

Can-India-create-115-million-jobs-by-2030
Figure 3: Can India create 115 million jobs by 2030?

The survey results align with this suggestion with over 62% believing expanding the manufacturing sector is key to generating more jobs. Moreso, while nearly 41% expressed doubt, a majority (almost 60%) believe India can create the required 115 million jobs by 2030.

Methodology

Survey TitleSurvey on India’s Need to Create 115 Million Jobs By 2030
DurationJune 7 – June 16, 2024
Number of Participants5,000
DemographicsMales and females, aged 21 to 99
Participating Countries Afghanistan, Algeria, Angola, Argentina, Armenia, Australia, Azerbaijan, Bahrain, Bangladesh, Belarus, Benin, Bolivia, Brazil, Brunei, Bulgaria, Burkina Faso, Cambodia, Cameroon, Canada, Chile, China, China (Hong Kong) China (Macao), China (Taiwan), Colombia, Costa Rica, Croatia, Czech Republic, Ecuador, Egypt, El Salvador, Ethiopia, Finland, France, Gambia, Georgia, Germany, Ghana, Greece, Greanada, Guatemala, Honduras, Hungary, India, Indonesia, Iraq, Ireland, Israel, Italy, Ivory Coast, Japan, Jordan, Kenya, Kuwait, Kyrgyzstan, Latvia, Lebanon, Libya, Lithuania, Malaysia, Maldives, Maluritania, Mexico, Moldova, Mongolia, Morocco, Mozambique, Myanmar [Burma], Namibia, Nepal, Nicaragua, Nigeria, Oman, Pakistan, Palestine, Panama, Peru, Philippines, Poland, Portugal, Qatar, Romania, Russia, Saudi Arabia, Serbia, Sierra Leone, Singapore, Slovakia, South Africa, South Korea, Spain, Sri Lanka, Tanzania, Thailand, Togo, Tunisia, Turkey, Turkmenistan, Uganda, Ukraine, United Arab Emirates, United Kingdom, United States, Uruguay, Uzbekistan, Venezuela, Vietnam, Yemen, Zimbabwe.