INDIA SEES MASSIVE JUMP IN JOB CREATION 172 MILLION NEW JOBS CREATED IN LAST DECADE
New Delhi, October 23, 2024 – In a significant boost to the country’s economy, India has created approximately 172 million new jobs in the last decade, from 2014 to 2024. This growth has been driven mainly by the services, agriculture, manufacturing, infrastructure, MSME, healthcare, and education sectors.
According to data released by the government, the peak year for job creation was FY 2023-24, with 46 million new jobs created. This marks a 36% growth in job creation under the current government, compared to a 6.6% growth in the previous decade.
The services sector, including IT and startups, has been a major driver of job creation, with employment growing from 5.5 million in 2014 to 15 million in 2024. The agriculture and allied sector has also seen significant growth, with employment increasing from 3 million in 2014 to 5 million in 2024.
The manufacturing and industry sector has also contributed to job creation, with employment growing from 2.5 million in 2014 to 4 million in 2024. The infrastructure and construction sector has also seen significant growth, with employment increasing from 1.8 million in 2014 to 4 million in 2024.
The MSME sector has also played a crucial role in job creation, with employment growing from 1.3 million in 2014 to 3 million in 2024. The healthcare and education sectors have also seen significant growth, with employment increasing from 1 million to 3 million and 0.8 million to 2 million, respectively.
The government has attributed the growth in job creation to its various initiatives and policies, including the Make in India program, the Startup India initiative, and the Pradhan Mantri Kaushal Vikas Yojana.
“The growth in job creation is a testament to the government’s efforts to promote economic growth and development,” said a government spokesperson. “We are committed to creating more jobs and opportunities for the youth of India.”
TOTAL JOBS CREATED IN LAST 11 YEARS
According to recent data, India created approximately 172 million new jobs between 2014 and 2024. In FY24 alone, 46.7 million new jobs were created, taking the total to 643.3 million.
The data released by the government has been sourced from the Reserve Bank of India KLEMS Database, Ministry of Labour & Employment Reports, PLFS, NSSO Surveys, and Ministry-specific Sector Reports.
SECTOR-WISE GROWTH
– Services (IT, Startups): 5.5 million (2014) to 15.0 million (2024)
– Agriculture & Allied: 3.0 million (2014) to 5.0 million (2024)
– Manufacturing & Industry: 2.5 million (2014) to 4.0 million (2024)
– Infrastructure & Construction: 1.8 million (2014) to 4.0 million (2024)
– MSME Sector: 1.3 million (2014) to 3.0 million (2024)
INCREASE IN YEARLY JOBS CREATION
– 2014: 16.5 million jobs were created .
– 2024: 38.0 million jobs has been created .
The growth in job creation is expected to continue in the coming years, driven by the government’s initiatives and policies.So the Government has nearly doubled the target of Job creation given in the manifesto which was 20 million jobs per year .
Vineet handa
Chairman
Swadeshi Shodh Sansthan
Punjab
