Replace e with r --- EmployeE to EmployeR

Replace e with r --- EmployeE to EmployeR 

What difference would it make?

India: Overall Population: 1.326 Billion

Working Population: 39%

GDP: $1.875 Trillion

India with around 1.2 billion population in the country, the worker population ratio is 39 percent at the national level, with 40 percent in rural areas and 36 percent in urban areas.

In the worker population ratio, 54 percent are men and 22 percent women in urban and rural areas.

By fiscal year 2019, India working age population would be swelled by 85 million, of these 51 million would be seeking employment, with a large number of young persons in the 20-35 age group. The proportion of working-age population in India is likely to increase to more than 64 per cent by 2021.

 If we look at Industry wise employment data, Agriculture has 238 Million, while Service has 121 million, followed with manufacturing which has 52 Million and Construction with 44 Million employee base.

Solution:

It may sound pointless, if I say that it take just 1% of working population to evolve from employee to employer (i.e. replace e with r) and this would bring $80.4 Billion additional revenue and put India GDP to $1.955 Trillion.

Let’s do simple math 39% of population i.e. 517 Million.

1% of employed population would be 5.2 Million.

If we take 1:10 ratio, would generate 52 million of jobs apart from 5.2 million people who need to backfill their positions. So in total it would generate 57.2 Million of jobs which is required by 2019.

Contribution require:

Financial institutions need to bring different business finance scheme to attract start-up. They need to extend full support to new ideas to get concerted into successful business.

Educational institute need to Introducing fast track reforms in higher education, inculcate the idea of entrepreneurship as part of their course curriculum. Final year projects should have go to market strategy which bring entrepreneurship within individual.

Industry should come out with their requirements which could be done at small scale or could be done by start-up. They need to outsource their smaller business for start-up to get evolve as new business. This would help bigger organization to reduce production/Manufacturing cost to large extent at the same time increase in employment.

Investors need to come forward to support start-up with seed capitals. They can decide the percentage of their investment to be done in new start-up. Publish the business ideas which has growth potential to get pick-up.

Government need to ease demand & supply constraints in Manufacturing and service sector through labour reforms. Government need to run National level skill assessment & development program.

Individual need to play a major role to bring this change at national level. They need to Pick-up their area of interest and strive to make it big, come out with idea which could be converted into scalable business. Look into the Industry which has high growth potential and generate quick revenue.

Conclusion:

If we all think in right direction with positive mind-set and get support from respective institutions, the issue of unemployment can be tackled.

Regards @lok