Tata Group to Create 5 Lakh Manufacturing Jobs in 5 Years
By Rediff Money Desk, New Delhi Oct 15, 2024 11:09
Tata Group Chairman N Chandrasekaran announced plans to create 5 lakh manufacturing jobs in the next 5 years across sectors like semiconductors, EVs, and batteries.
New Delhi, Oct 15 (PTI) Tata Group will create 5 lakh manufacturing jobs in the next five years across sectors such as semiconductor, electric vehicles, battery and related industries, its Chairman N Chandrasekaran said on Tuesday.
Speaking at a symposium of Indian Foundation for Quality Management, the Tata Sons Chairman asserted that India cannot achieve the goals of being a developed nation, if the country cannot create manufacturing jobs.
"... Between our (Tata Group's) investments in semiconductors, our investment in precision manufacturing, assembly, electric vehicles, batteries and related industries, I think we will create five lakh manufacturing jobs in the next five years," he said.
Citing the group's upcoming semiconductor plant in Assam and other new manufacturing units for electric vehicles and battery, he said, "we are setting up a number of plants".
While he has not got the full details, Chandrasekaran said based on "basic math", these jobs will have multiplier effects.
As the ecosystem has to be set up, he said a minimum 5 lakh companies -- small, medium-scale companies would also come up in the ecosystem.
He acknowledged the government's support in these initiatives and stressed on the need for creating jobs in the manufacturing sector.
"We cannot achieve the goals of Viksit Bharat if we cannot create manufacturing jobs, because we all know 1 million people are coming to the workforce every month," he said.
Chandrasekaran further said, "We need to create 100 million jobs." He asserted the significance of new-age manufacturing like semiconductors, which creates eight to ten indirect jobs for every single job created.
Speaking at a symposium of Indian Foundation for Quality Management, the Tata Sons Chairman asserted that India cannot achieve the goals of being a developed nation, if the country cannot create manufacturing jobs.
"... Between our (Tata Group's) investments in semiconductors, our investment in precision manufacturing, assembly, electric vehicles, batteries and related industries, I think we will create five lakh manufacturing jobs in the next five years," he said.
Citing the group's upcoming semiconductor plant in Assam and other new manufacturing units for electric vehicles and battery, he said, "we are setting up a number of plants".
While he has not got the full details, Chandrasekaran said based on "basic math", these jobs will have multiplier effects.
As the ecosystem has to be set up, he said a minimum 5 lakh companies -- small, medium-scale companies would also come up in the ecosystem.
He acknowledged the government's support in these initiatives and stressed on the need for creating jobs in the manufacturing sector.
"We cannot achieve the goals of Viksit Bharat if we cannot create manufacturing jobs, because we all know 1 million people are coming to the workforce every month," he said.
Chandrasekaran further said, "We need to create 100 million jobs." He asserted the significance of new-age manufacturing like semiconductors, which creates eight to ten indirect jobs for every single job created.
Source: PTI
DISCLAIMER - This article is from a syndicated feed. The original source is responsible for accuracy, views & content ownership. Views expressed may not reflect those of rediff.com India Limited.
You May Like To Read
TODAY'S MOST TRADED COMPANIES
- Company Name
- Price
- Volume
- Standard Capital
- 1.50 ( -0.66)
- 33763854
- Vodafone Idea L
- 9.11 (+ 0.11)
- 28272445
- Srestha Finvest
- 0.81 ( -4.71)
- 25157505
- Spicejet Ltd.
- 66.86 (+ 1.75)
- 16025881
- Rajnish Wellness
- 3.00 (+ 3.09)
- 10914307
MORE NEWS
Commodities Prices in Bengaluru Today
Get the latest commodities prices in Bengaluru for Rice, Jowar, Jaggery, Coriander,...
DGCA Removes SpiceJet from Enhanced Surveillance
The Directorate General of Civil Aviation (DGCA) has removed SpiceJet from its enhanced...
India Salary Increase: 9.5% in 2025 - WTW Report
Corporate India is expected to offer a 9.5% salary hike in 2025, similar to 2024, as...