New Delhi: The PHD Chamber of Commerce and Industry (PHDCCI) in its latest report has suggested that the government has ample scope in the sectors like Railways, civil aviation, road transport, and tourism to create 10 crore jobs in the next five years. The industry body hs basically suggested an economic Agenda to the political parties to create more than 100 million jobs in the next 5 years through 7 pronged strategy.
PHDCCI’s Seven-Pronged Strategy
PHD chamber has also suggested a seven-pronged strategy for the government to help India grow at 9-10 percent annually and become a $5 trillion economy by 2023-24. These include Smart Farming, Bolstering Industrialisation with artificial intelligence and industry 4.0, Ease of Doing Business for MSMEs, Revitalizing exports growth, exploring tourism potential, quality education with skill development and inclusive health for all. “The low hanging fruit would be opening the tourist inflows by giving a free tourist visa for one-year validity with double entry permission and low-cost manufacturing with ease of doing business for MSMEs,” said Rajeev Talwar, President, PHD Chamber of Commerce and Industry in a press statement issued with the report.
Tourism can be a game changer
The report emphasised that tourism is the largest investment market in India and thus can be a major game changer in creating jobs for millions. Over 2.5 crore Indians traveled abroad in 2018 and 180 crore took domestic tourist trips. It can create over 40 million direct and indirect employment in the country. The report also mentioned that the flights operating wide-body aircraft from a country to distant destinations attracts investment, creates jobs and increases passenger traffic. Therefore, it suggests that India should adopt a policy to promote wide-body aircraft by the Light Cost Carriers (LCC) in India and should open the sector for private corporate airlines.
The Report also suggested privatisation of Railway
In its idea of ‘Bolstering industrialization’ the report also suggested that with state of the art infrastructure such as privatization of rail, road, and port would create competitiveness not only at the domestic level but also in the international markets.
“Indian Railways see the highest number of passengers in the world. The privatisation of railways could mean more employment opportunities”
With the advent of artificial intelligence and industry 4.0, with the increased efficiency and efficacy of the production processes, India has the potential to become a manufacturing hub. “Indian Railways see the highest number of passengers in the world. The privatisation of railways could mean more employment opportunities” said Rajeev.
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