Prime Minister Narendra Modi highlighted the significance of drawing investment to India while also making sure that it results in meaningful job opportunities for Indian youth.
In interview with a news agency. His remarks are made in light of the fact that unemployment in India is on the rise, as noted in a recent report by the International Labor Organization (ILO) and the Institute for Human Development (IHD).
The Prime Minister’s comments highlight a calculated approach to investment, giving equal weight to creating of jobs for the nation’s rapidly growing youth population and capital inflow.
The Prime Minister’s comments highlight a calculated approach to investment, giving equal weight to creating of jobs for the nation’s rapidly growing youth population and capital inflow. “I want to see more investment in India”. In the interview, PM Modi said, “It doesn’t matter who has invested money; but the sweat put into the work must be from our own people.” He highlighted how important it is for products to capture the spirit of India in order to support local talent in these kinds of efforts.
According to the IHD-ILO research, there have been notable changes in India’s employment landscape. Specifically, the proportion of youngsters without jobs who have completed secondary or higher education has nearly doubled, from 35.2% in 2000 to 65.7% in 2022. This emphasizes how important it is to make investments that address the issue of youth unemployment while also promoting economic growth.
The Prime Minister’s comments are in line with current trends in the electric vehicle (EV) market, which is a growing sector with potential for both environmental sustainability and economic prosperity. Modi emphasized how quickly EV technology is being adopted in India, pointing to a notable rise in sales from 2,000 units in 2014 to an astounding 12 lakh units in the fiscal year 2023–2024.
The global automobile scene is undergoing change as well, with firms like Tesla having a big impact on how people will travel in the future. Nevertheless, Modi’s demand for investment with an emphasis on local jobs is highly relevant in light of rumors of Tesla’s workforce reduction and market difficulties.
Modi expressed his approval of Tesla’s possible investment in India, but he also emphasized the need to guarantee job creation for young Indians. His measured answer to queries regarding Elon Musk’s backing of India is indicative of a larger policy that prioritizes national interests over international alliances.
Government programs including Production-Linked Incentives (PLIs), the construction of EV charging station infrastructure, and the growing interest of Indian consumers in green transportation have all contributed to the country’s drive toward EV adoption. In light of India’s changing industrial landscape, these elements, along with Modi’s appeal for investment that is in line with employment creation, indicate a proactive approach to economic development and job creation.