Economic Survey suggests widening scope of Make in India to create 4 crore jobs by 2025

This can be done by integrating “assemble in India for the world” into Make in India.

The Economic Survey 2019-20 has proposed India can create well-paid four crore jobs by 2025 and eight crore by 2030 by integrating “assemble in India for the world” into government’s Make in India initiative and exporting network products that can give substantial push to India’s target of becoming a $5 trillion economy.

"India has unprecedented opportunity to chart a China-like, labour-intensive, export trajectory,” the Survey, tabled in Parliament on Friday, said.

According to the Survey, this can be done by integrating “assemble in India for the world” into Make in India, specialization at large scale in labour-intensive sectors, laser-like focus on enabling assembling operations at mammoth scale in network products and exporting primarily to markets in rich countries.

Suggesting that India’s trade policy can be an enabler to achieve this, the Survey said it can help India increase its export market share to about 3.5% by 2025 and 6% by 2030 besides creating 4 crore well-paid jobs by 2025 and 8 crore by 2030.

“Exports of network products can provide one-quarter of the increase in value added required for making India a $5 trillion economy by 2025,” it added.

Analysing the impact of India’s trade agreements on overall trade balance, the Survey said India’s exports increased by 13.4% for manufactured products and 10.9% for total merchandise, imports increased by 12.7% for manufactured products and 8.6% for total merchandise. “India gained 0.7% increase in trade surplus per year for manufactured products and 2.3% per year for total merchandise,” the Survey added.