- The report says the manufacturing, infra sector will witness a 2% increase in net employment in April-September FY20
- The report revealed that medium-sized businesses will see a jump of 5% in outlook while large businesses will grow by 2%
The manufacturing, engineering and infrastructure sector is likely to add 58,200 new jobs in the April-September of this financial year, a report published on Monday said.
According to TeamLease Services biannual ‘Employment Outlook’ report for April-September FY20, these industries will witness a 2% increase in net employment.
“The manufacturing, engineering and infrastructure sector has employed 6.42 crore people as of HY2 of 2018-19.
With the electronic manufacturing ecosystem is expected to reach investments worth ₹26 trillion by 2025 the sector is expected to witness an exponential growth in jobs,” Teamlease Services head of industrial, manufacturing and engineering vertical, Sudeep Sen said quoting the report.
Further, he said, modernisation and the introduction of Industrial Internet of Things (IIoT) in manufacturing will not only witness the sector contributing around 25% of the GDP of the country by 2022 but adding significantly towards job creation as well.
Source: Livemint
