India's private sector must ramp up efforts to align with government initiatives on job creation and youth employability, Mahindra Group Chairman Anand Mahindra emphasised on Wednesday.
His warning comes amid concerns that without a unified approach, India’s demographic dividend could turn into a demographic disaster.
Reacting to the Union Budget for 2024-25, Mahindra noted the government's recognition of the need for growth to be accompanied by robust job creation.
"We are the envy of the world in terms of our growth in GDP. We are the preferred destination for global investment due to belief in our future," Mahindra stated in a post on social media platform X.
However, he stressed that the challenge now is to ensure this growth leads to a surge in job creation. "For me, the most important element of yesterday's budget was the strong evidence that the government recognises this as its primary mission. And that skilling to make young people employable is as crucial as employment itself," he added.
Mahindra praised the schemes announced by Finance Minister Nirmala Sitharaman as promising but underscored the need for close monitoring to ensure their effectiveness and adaptability.
"But they need to be tracked closely to ensure that the incentives are working and if any tweaks or modifications are required," he said.
Mahindra called on the private sector to contribute significantly by investing in both employment and employability. "The private sector needs to step up to the crease and do its part," he said.
He cautioned, "If we don't all pull together for this task, the demographic dividend will revert to being a demographic disaster."
Follow us
