Tata Group is now ready to take a new flight. Tata Group Chairman N Chandrasekaran on Tuesday said the conglomerate plans to create 500,000 manufacturing jobs in various sectors including semiconductor, electric vehicle, battery and related industries over the next five years.
Speaking at a seminar organized by the Indian Foundation for Quality Management, Chandrasekaran stressed that India cannot achieve its goal of becoming a developed nation without creating jobs in the manufacturing sector, according to news agency PTI. “Through our investments in semiconductor, precision manufacturing, assembly, electric vehicles, batteries and related sectors, we aim to create 500,000 manufacturing jobs over the next five years,” he said.
“We are setting up multiple plants,” he said, highlighting the group’s upcoming semiconductor plant in Assam and additional manufacturing units for electric vehicles and batteries. Although he admitted that he did not yet know all the details, he said that these jobs would have a significant multiplier effect. He said that at least 500,000 small and medium enterprises will emerge once the necessary ecosystem is established.
Chandrasekaran appreciated the government’s support for these initiatives and stressed the importance of job creation in the manufacturing sector. “We cannot achieve the goal of a developed India if we do not create jobs in the manufacturing sector, especially when 10 lakh people are joining the workforce every month,” he said. He stressed the need to create 100 million jobs and highlighted that sectors like semiconductors can create eight to ten indirect jobs for every direct employment.
Notably, in the fiscal year ending March 31, 2024 (FY23), employment in India’s manufacturing sector grew by 7.4%, adding 1.3 million new jobs compared to 1.1 million in FY22. The growth was driven by a strong performance in the sector’s gross value added (GVA), which rose 7.3% to Rs 21.97 trillion at current prices, National Statistical Organization (NSO) data showed.
