Mahindra warns of 'demographic disaster' sans jobs

Welcoming a move to develop "giant" special economic zones in coastal areas, industrialist Anand Mahindra today warned that without job creation on a war footing our "demographic dividend can turn into a disaster".

"Given the demographic disaster that awaits us as opposed to the dividend, I believe what the government and Niti Aayog is piloting to do is absolutely right," Mahindra said at an event here.

He said the Niti Aayog is working to create "giant" SEZs on the coastal areas given the infrastructure bottlenecks in the hinterlands.

Mahindra said if he were a policymaker, multinationals including Chinese companies who have set up shops in similar zones back there will be the first ones to be invited to invest in such exclusive enclaves.

He cited handset-maker Foxconn, which has already announced investments here, as an excellent example of how such a scheme can work.

Mahindra also suggested that with 3D printing getting into the play, we can use the craftsmanship of our artisans better by installing such printers for production.

The diversified group has started such an activity as part of its CSR, where it is installing devices, Mahindra said, adding it can help in manufacturing auto parts in the future.

The industrialist also said there is a need to have smart villages as well, along with the smart cities.