Banga flags five sectors with huge job potential in India

World Bank President Ajay Banga has identified infrastructure, agriculture, primary healthcare, tourism and value-added manufacturing as five sectors that could create large numbers of jobs in India, particularly through micro, small and medium-sized enterprises.

Banga said private investment would be central to converting India’s economic growth into employment for its large young population.

“Jobs are created in the private sector. Government enables and the private sector creates,” Banga said, adding that micro, small and medium-sized enterprises would be central to job creation.

Infrastructure was at the top of his list. Banga pointed to the direct employment generated through construction as well as the wider economic activity enabled by improved physical connectivity. Agriculture, particularly for small farmers, was the second area. Referring to his visit to Uttar Pradesh, Banga cited cooperatives using technology from Google and the World Bank to help small farmers gain access to inputs at scale.

Primary healthcare could also become a major source of employment if services were delivered through decentralised clinics. Such a model would require nurses, medical diagnostic technicians and midwives, supported by digital links to doctors and larger hospitals.

Tourism was the fourth sector identified by Banga. He described it as a huge opportunity and said he had discussed the sector with Finance Minister Nirmala Sitharaman during the G20 ministerial.

The fifth sector was value-added manufacturing. Banga said India had strong capabilities in minerals, metals and fashion that could be developed further to generate employment and greater economic value.

Banga’s assessment places MSMEs and private investment at the centre of India’s employment challenge, with the five sectors offering opportunities to translate economic growth into jobs for the country’s young workforce.

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The Hans India