Tata Group plans to generate 500,000 jobs in 5 years: N Chandrasekaran

Tata Sons Chairman N. Chandrasekaran (Photo: PTI)

2 min read Last Updated : Oct 15 2024 | 6:25 PM IST

The Tata Group plans to generate 500,000 manufacturing positions in the coming five-year period across various industries, including semiconductors, electric vehicles, and battery production, according to chairman N Chandrasekaran's statement on Tuesday.

"In order to achieve economic growth, we need to achieve job growth...With a large number of youth, we will be the human resource capital of the world," he stated in his speech at the Indian Foundation for Quality Management (IFQM) symposium.

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He mentioned that the country has growth momentum and per capita incomes are rising. Therefore, the demand for products and services will keep growing, he noted. There is a need to provide services at better quality all across the nation, he stated.

"Between our (Tata Group's) investments in semiconductors, our investment in precision manufacturing, assembly, electric vehicles, batteries, and related industries, I think we will create five lakh manufacturing jobs in the next five years," he stated.

Chandrasekaran mentioned the group's upcoming semiconductor facility in Assam and other new manufacturing units, noting that they are establishing several plants. While exact details are unavailable, he suggested that these jobs would have multiplier effects based on basic calculations. He anticipates that at least 500,000 small and medium-scale companies would emerge in the ecosystem.

Acknowledging government support, Chandrasekaran stressed the necessity of manufacturing sector job creation. He pointed out that India cannot achieve its development goals without creating manufacturing jobs, given that one million people enter the workforce monthly.

"We cannot achieve the goals of Viksit Bharat if we cannot create manufacturing jobs, because we all know 1 million people are coming to the workforce every month," he said.

Chandrasekaran added, "We need to create 100 million jobs." He highlighted the importance of new-age manufacturing sectors like semiconductors, which he claimed create eight to ten indirect jobs for every direct job.

He mentioned that a developed India will not just be about economic growth but also about achieving goals related to social equality, health, and quality of life of citizens.

First Published: Oct 15 2024 | 6:25 PMIST