Speaking at the 16th Rozgar Mela on Saturday, Prime Minister Narendra Modi aimed to assert that India is rapidly moving in the direction of becoming the third-largest economy in the world. The Prime Minister, in a special emphasis on the evolution that the country has achieved in the last 11 years, stated that India has enjoyed continuous progress in all sectors, with a major focus on the manufacturing and employment sectors.
India is developing fast in all areas. Modi said our government has been working on empowering industries, job creation, and building up the economy at the grassroots level. He cited the manufacturing industry as being one of the greatest strengths of India and observed that the attempts to pump more and more people into private sector jobs are already showing very promising results.
Another government plan was announced by the Prime Minister, and this is the so-called Employment Linked Incentive Scheme, which was supposed to be focused on first-time employment in the private sector. In this plan, the government will invest 15000 Rs in the initial pay of young people who will get their first job in the private sector. A 1 lakh crore budget has been given to the initiative, which will create about 3.5 crore jobs in the country.
To push the local manufacturing further, PM Modi talked about the Mission Manufacturing program, which was promoted in the Union Budget this year. He made a mention of the success of the Production Linked Incentive (PLI) scheme, blatantly saying that it has already resulted in 11 lakh jobs.
The electronics and mobile manufacturing spheres, in particular, got particular attention. The electronics industry has increased by over fivefold in the last 11 years. As we had 2-4 mobile manufacturing units earlier, now we have 300 units that employ lakhs of youth, as said by Modi. The country is in a transformational stage of becoming a manufacturing hub, as it now annually manufactures electronics worth 11 lakh crores in India.
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