India’s Employment Growth Surges in Key Sectors: RBI Report

According to RBI data, employment in 27 sectors including agriculture, trade, and financial services increased by 3.31% in 2022-23, reaching 59.66 crore. The India KLEMS Database tracks productivity data across these sectors from 1980-81 to 2022-23. Agriculture, hunting, forestry, and fishing saw significant employment increases.

The employment figures in 27 key sectors of the Indian economy, such as agriculture, trade, and financial services, have grown by 3.31% year-on-year, reaching 59.66 crore in 2022-23, according to a report published by the Reserve Bank of India (RBI) on Monday.

Comparatively, employment in these sectors stood at 57.75 crore in the previous year, 2021-22. The data is available on the RBI's website as part of an update on 'Measuring Productivity at the Industry Level-The India KLEMS Database'.

The database encompasses data for 27 industries covering the entire economic spectrum of India, with records spanning from 1980-81 to 2022-23. Notably, the sector of 'agriculture, hunting, forestry, and fishing' saw its employment figures rise to 25.3 crore from last year's 24.82 crore. Sectors like construction, trade, and transport/storage were also significant employment providers.

The RBI highlighted that the database supports empirical research in economic growth and productivity, aiding in the formulation and implementation of policies to boost productivity in the Indian economy.

(With inputs from agencies.)