21 million additional jobs by 2025? Cabinet may consider policy today

May 25, 2016 08:28

Union Cabinet is likely to consider today the first-ever policy for the country's capital goods sector, which envisages creation of 21 million additional jobs by 2025.

The policy envisions increasing the share of capital goods in total manufacturing activity from 12 per cent at present to 20 per cent by 2025. It was cleared in February by Prime Minister Narendra Modi.

The objectives of the National Capital Goods Policy are to create an ecosystem for a globally competitive capital goods sector to achieve total production in excess of Rs 7.5 lakh crore by 2025 from the current Rs 2.3 lakh crore.

It also aims to increase direct domestic employment from the current 1.4 million to at least 5 million and indirect employment from the current 7 million to 25 million by 2025, thus providing additional employment to over 21 million people.

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