The Tata Group will create 5 lakh jobs in manufacturing sector in the next five years, said the Chairman N Chandrasekaran. “Through our investments in semiconductors, precision manufacturing, assembly, electric vehicles, batteries, and related sectors, we aim to create 5 Lakh manufacturing jobs in the next five years,” said Chandrasekaran.

Tata Sons Chairman Chandrasekaran was speaking at a symposium hosted by the Indian Foundation for Quality Management on Wednesday, October 16, 2024. He emphasised that without generating manufacturing jobs, India cannot achieve its goal of becoming a developed nation.

Chandrasekran highlighted the key projects of Tata Group, including the upcoming semiconductor plant in Assam. He also mentioned Tata Group’s some other manufacturing units for EVs and batteries. “We are establishing several plants,” said Chandrasekran. He added that the manufacturing ecosystem is likely to see the emergence of 5 lakh small and medium enterprises (SMEs).

Chandrasekaran said, “We cannot achieve the vision of ‘Viksit Bharat’ if we don’t create manufacturing jobs, especially as 1 million people enter the workforce every month.” However, he lauded the government support and initiatives. He also emphasised on the need to generate 100 millions in sectors like semiconductors and others.

Notably, In financial year (FY) 2023-24, India’s manufacturing sector saw a 7.4% rise in employment. 1.3 million new jobs were added in the sector during the period, compared to 1.1 million in FY22.

National Statistical Organization (NSO) data indicates the robust performance of the sector in FY 2023-24. Gross value added (GVA) of the manufacturing sector rose by 7.3% to reach ₹21.97 trillion at current prices during the period.