CEO of the Wadhwani Foundation: Government should focus on employment statistics; India needs an equivalent of the BLS in the US

CEO of the Wadhwani Foundation: Government should focus on employment statistics; India needs an equivalent of the BLS in the US

CEO of the Wadhwani Foundation: Government should focus on employment statistics; India needs an equivalent of the BLS in the US

India is a youthful nation with a large youth population. One million individuals reach the age of eighteen each month, and they all require work. We have to make sure that these individuals can all find employment. accessible to those who require financial support for their families and themselves." This was said by Kela in a Tuesday interview with PTI.

The government in India requires data from the US Bureau of Labor Statistics (BLS) in order to better understand the types of jobs that are being generated and the industries that are employing. This comprehensive employment data is urgently needed. The creation of counterparts need to be taken into consideration. The CEO and worldwide president of the Wadhwani Foundation, Ajay Kela, told PTI.

India is a youthful nation with a large youth population. One million individuals reach the age of eighteen each month, and they all require work. We have to make sure that these individuals can all find employment. accessible to those who require financial support for their families and themselves." This was said by Kela in a Tuesday interview with PTI.

Regarding his hopes for the interim budget, Kela said, "The absence of hard statistics on employment in India is a problem. We lack an analog of BLS, which is available in the US."

"There will be a difference in the programs or plans you develop if you don't know what jobs are being created, what sectors are hiring, and what the job demand will be like in the next four to five years."

"Even for us, it will become harder to benefit from the demographic dividend if the young people loses their jobs, but this (data) will assist remove the disruption that may arise. The data is in the hands of the government; it is time for Him to investigate this," stated Kela.

He praised the government's efforts in supporting the nation's startups and small and medium-sized enterprises (SME) sector, saying that it had accomplished a great deal of work. For instance, most nations lack programs like Startup India, yet there are several ones.

"Many government agencies have been established; T-Hub is one such instance. The government provides the majority of the funding for India's current network of more than 700 incubators. The government is making significant efforts to support microbusiness owners and the startup environment. Is. He did, however, add that additional programs similar to the Mudra Yojana have to be developed in order to assist startups and microbusiness owners.

The CEO of the Wadhwani Foundation said, "Startups are the ones who are going to create jobs and become the next Infosys, Maruti, and Wipro of the world."

"Not much attention has been paid to businesses that have demonstrated the potential to add jobs in the Rs 50-150 crore range," he said. Many of these have the potential to develop considerably higher, therefore we must consider how to support their growth."

Regarding the foundation's intentions for India, the CEO said, "We have trained approximately 1,50,000 Indian entrepreneurs and approximately 5,00,000 entrepreneurs worldwide over the last five years." Within the next five years, we want to increase this to at least 10%." Desire to multiply it several times."

The Wadhwani Foundation is a worldwide non-profit organization that was founded in 2000 and focuses on increasing employment development. With a focus on skills, innovation, research, and digital transformation for government, the Foundation is promoting economic growth in 15 countries throughout Asia, Africa, and Latin America.