MSMEs created 1.5 crore jobs a year since 2014: Survey
-The Times of India
NEW DELHI: A survey of 105,347 micro, small and medium enterprises firms (MSME), has shown a growth of 13.9% in net jobs created over the last four years at 3.3% per annum.
The survey conducted by the Confederation of Indian Industry (CII) said the overall job creation works out to 13.5 to 14.9 million per annum given that the total workforce size according to the Labour Bureau is 450 million annum. ‘Net jobs created’ is defined as recruitment less exits.
Three states Maharashtra (29%), Gujarat (14%) and Telangana (10%) – accounted for 54% of the jobs created in the last four years. The top eight states accounted for over 80% of the jobs.
“…Assuming a more conservative growth of 3.0%, the extrapolated jobs addition works out to 13.5 million jobs. The assumption of 3.0% growth assumes that employment growth in MSMEs is likely to be higher relative to the larger firms,” the survey said.
The survey comes amid the sharp debate on job creation with critics saying that the government has failed to create jobs despite robust economic growth.
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