The PHD Chamber of Commerce and Industry has suggested a seven-pronged strategy to help India grow at 9-10 percent annually and become a $5 trillion economy by 2023-24.
The Modi government has been criticised by Opposition parties for the tardy progress in jobs creation since it came to power. The PHD Chamber of Commerce and Industry (PHDCCI) in its latest report has suggested that the government should look at Railways, civil aviation, road transport and tourism to create 10 crore jobs in the next five years.
It also suggested a seven-pronged strategy for the government to help India grow at 9-10 percent annually and become a $5 trillion economy by 2023-24. These include smart farming, ease of doing business for MSMEs, revitalizing exports, exploring tourism potential and quality education.
The report said that tourism is the largest investment market in India. Over 2.5 crore Indians travelled abroad in 2018 and 180 crore took domestic tourist trips. It can create over 40 million direct and indirect employment in the country.
"Exploring employment creation with increased air services and a number of flights, expansion of taxi services would be crucial to meet transportation needs and to absorb lakhs of workforce," said Rajeev Talwar, President of PHDCC.
The report noted that flights operating wide-body aircraft from a country to distant destinations attracts investment, creates jobs and increases passenger traffic. Therefore, it suggests that India should adopt a policy to promote wide-body aircraft by the Light Cost Carriers (LCC) in India and should open the sector for private corporate airlines.
When taxi services in many countries were allowed to operate with radio taxi operators and cab aggregators, there was a visible surge in investments as well as employment. PHDCCI hence suggests opening up inter and intra-city bus services to corporate bus operators in India.Indian Railways see the highest number of passengers in the world. Privatisation of railways could mean more employment opportunities.