The latest edition of Business Standard Opinion brings together diverse insights on some of the most pressing issues affecting India, from its manufacturing sector to how global events, like the US elections, could influence its economy. Here’s a rundown of the key ideas explored:
India’s manufacturing resilience and employment concerns
The annual survey of industries for FY23 presents a mixed picture of India’s manufacturing sector. While it shows resilience in terms of input use, output, and profitability, the sector remains a cause for concern when it comes to employment. Despite a post-pandemic recovery, only about 18 million people were employed in manufacturing in 2022-23. This number is far from sufficient in a country with a large, unskilled labor force.
India has historically underperformed in generating jobs in unskilled and low-skilled manufacturing sectors. As a result, the country has not been able to shift enough people from agriculture to manufacturing, which is crucial for sustained economic growth. The editorial emphasizes that the issue goes beyond just job creation; it also concerns where the jobs are being generated and how much of the output is being distributed to the workers.
To address this, the country must improve its conditions for attracting investment, ensuring that opportunities are not concentrated in a few states or in capital-intensive industries. A more diversified and inclusive manufacturing sector would help India tackle its employment challenges more effectively, pulling more people out of subsistence farming and into more productive sectors.
How US elections could impact India
In a separate opinion piece, Ajay Chhibber explores how the upcoming US elections could have a significant effect on India. The global reach of American policies means that any changes in the US, especially in areas like trade, immigration, and international relations, are likely to influence India’s economic and political landscape.
Chhibber discusses the possible scenarios that could unfold depending on the election outcome and how they could impact India’s trade relations, its IT sector, and overall geopolitical alignment. For instance, a shift in US immigration policies could affect Indian professionals, particularly those working in technology. Additionally, changes in trade policies may influence India’s export-oriented industries, which have strong ties with the US market.
More Read
While the US election might seem a distant concern, its outcomes could directly influence India’s economic strategy in the coming years, making it a critical topic for Indian policymakers to watch closely.
A call for zero tolerance against spam
Another editorial tackles the growing issue of spam in India’s telecom sector. Despite several initiatives by the government and telecom operators, spam calls and messages continue to plague millions of consumers across the country. The editorial argues that the current approach has been insufficient and calls for a stricter, zero-tolerance stance from both the government and telecom companies.
Spam not only invades privacy but also undermines consumer trust in digital services. With India’s fast-growing digital economy, this issue takes on an added urgency, as spam could deter consumers from fully embracing digital solutions. The editorial stresses the need for comprehensive regulatory measures that will effectively curb spam and ensure that telecom services are more secure and reliable for all users.
The latest insights from Business Standard Opinion provide a valuable perspective on the current and future challenges facing India. From addressing employment issues in manufacturing to navigating global political changes and tackling everyday annoyances like spam, the editors highlight the need for India to remain proactive and adaptive. These issues, though varied, are interconnected and will play a crucial role in shaping India’s economic and social landscape in the years to come.
