- Former Infosys CFO said a lot of ₹10,000- ₹15,000 low paid jobs being created do not find favour with degree holders
- Pai suggested that India adopt the Chinese model of opening up labour-intensive industries and building infrastructure near coasts
Former Infosys CFO and multi-sector investor T V Mohandas Pai has said India does not face a job problem, but one of wages, as a lot of low paid jobs being created do not find favour with degree holders.
“India is not producing good jobs, but creating a lot of ₹10,000- ₹15,000 low-paid jobs which are not fancied by degree holders. India has a wage problem, not a job problem,” he told PTI.
Also, India has regional and geographical problems, Pai said.
Pai suggested that India adopt the Chinese model of opening up labour-intensive industries and building infrastructure near coasts, besides investing heavily in hitech R&D to meet the aspirations of job-seekers.
“We should look at what China has done. They first opened up the labour intensive industry – invited the rest of the world to come and use its labour and started an export industry.
We have not incentivised labour intensive industries. We don’t have proper policies, so we cannot use our surplus labour,” he said.
Source: Livemint
