How Can the Private Sector Boost Job Creation in Alignment with Government Initiatives?

India’s private sector must rise to the occasion and match the government’s efforts in job creation and youth employability. Without a unified effort, India’s demographic dividend could turn into a demographic disaster, warned Mahindra Group Chairman Anand Mahindra on Wednesday.

Reacting to the Union Budget 2024-25, Mahindra noted that the government acknowledges the critical need for growth that fosters job creation.

“Our GDP growth is the envy of the world, and we are a top destination for global investment due to confidence in our future,” Mahindra shared on the social media platform X.

He emphasized, “Our crucial task is ensuring this growth is paired with a surge in job creation.” Mahindra highlighted that the budget clearly shows the government’s priority in this mission, noting the importance of skilling youth to enhance their employability alongside creating jobs.

Mahindra praised the schemes announced by Finance Minister Nirmala Sitharaman as promising but stressed the need for close monitoring to ensure the incentives are effective, with adjustments made as necessary.

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Urging the private sector to contribute, Mahindra stated it “must step up and invest in both employment and employability.”

He warned, “Without collective effort, our demographic dividend could revert to being a demographic disaster.”