Tata Group to create 5 lakh manufacturing jobs in five years

By Staff Report October 16, 2024 2:35 pm

With the growing ecosystem set up, N Chandrasekaran said a minimum of 5 lakh companies would emerge creating many indirect job prospects as well.

The Tata Group plans to create 500,000 manufacturing positions in the next five-year period across various industries, such as semiconductors, electric vehicles, and battery production, according to the statement of the chairman, N Chandrasekaran at a symposium of the Indian Foundation for Quality Management. The details in this affair are unavailable, he suggested that these jobs would have multiplier effects based on basic calculations. He anticipates that at least 500,000 small and medium-scale companies would emerge in the ecosystem.

Chairman pointed that 1 million people are coming to the workforce every month and India cannot achieve the goals of being a developed nation if the country cannot create manufacturing jobs. 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.

“In order to achieve economic growth, we need to achieve job growth…With a large number of youth, we will be the human resource capital of the world,” he stated.

The group is establishing a semiconductor plant in Assam and other new manufacturing units for electric vehicles and batteries. The chairman mentioned that the country has growth momentum and per capita incomes are rising. Therefore, the demand for products and services will keep growing, he noted. There is a need to provide services at better quality all across the nation, he stated.