India's Manufacturing Leap: A Call for Workforce Reskilling

Amitabh Kant, India's G20 Sherpa, calls for reskilling the workforce to boost manufacturing, aiming to raise it from 17.5% to 25% of GDP. India's ambition to grow from USD 4 trillion to 30 trillion is challenged by the need for global value chain integration.

India's ambition to transform into a major manufacturing nation requires a concerted effort to reskill its workforce, according to Amitabh Kant, India's G20 Sherpa and former CEO of Niti Aayog. Speaking at the NDTV World Summit 2024, Kant highlighted that relying solely on the services sector will not suffice for sustainable growth.

Addressing the audience in New Delhi, Kant emphasized the urgency of increasing manufacturing's contribution to the GDP from 17.5% to 25% as the nation gears up for urbanization. With 500 million people expected to urbanize over the next five decades, India must harness the potential of manufacturing, services, urbanization, and agriculture, he argued, underscoring that reskilling the workforce is pivotal to this success.

Kant further elaborated on the economic ambitions of India, outlining the challenge of increasing the GDP from USD 4 trillion to USD 30 trillion. He insisted that this would necessitate India becoming a crucial part of global value chains, and stressed the importance of enhancing exports. He also touched on the significance of the government's efforts to establish India as a semiconductor hub, with notable developments already in motion.

(With inputs from agencies.)