Job Creation

Taiwan Semiconductor Manufacturing Co (TSMC) announced an investment of at least $100 billion in the United States to expand its semiconductor production. The investment will fund five new advanced fabrication facilities, with a significant portion directed to Arizona, where TSMC has already invested heavily. This expansion, which follows a prior $65 billion commitment during President Biden's administration, includes three new fabrication plants, two advanced packaging facilities, and a research and development center, creating approximately 40,000 construction jobs over the next four years. TSMC's CEO, C.C. Wei, stated the investment would support advancements in AI and smartphones. Taiwanese officials have said they will review the investment to ensure it aligns with Taiwan’s semiconductor interests, considering the sector's competitiveness. There are concerns that shifting too much production abroad could weaken Taiwan’s "Silicon Shield," its dominant role in chipmaking, which is seen as a key geopolitical asset amid tensions with China.

Budget 2025: PM Modi Hails ‘People’s Budget,’ Highlights Boost for Manufacturing, Tourism, Jobs

Prime Minister Narendra Modi hailed the Union Budget as a "people's budget," emphasising its focus on boosting savings, investment, and growth while empowering citizens. He highlighted measures to strengthen manufacturing, enabling Indian products to compete globally. Welfare provisions for gig workers reaffirm the government’s commitment to labour dignity. PM Modi also underscored key reforms, including granting infrastructure status to shipbuilding to drive employment and self-reliance. Additionally, the budget prioritises tourism by developing hotels at 50 key destinations, classifying them as infrastructure to revitalise the hospitality sector and generate jobs. He called these steps transformative for India's economic future.

Punjab's job surge: Nearly 45,000 new government positions created in just 30 months

Speaking at a ceremony where 293 appointment letters were handed out, Mann highlighted this milestone as a transformative moment for the youth of Punjab.

Flipkart and Meesho gear up for festive season with large-scale job creation

E-commerce players Flipkart and Meesho are ramping up their operations with substantial expansions and job creation efforts.

Prashant Kishor unveils Jan Suraaj's 2025 vision: Focus on women empowerment, local job creation

"In 2025, Jan Suraaj will contest on 243 seats and at least 40 women candidates will be nominated. We have also said that in 2030, 70-80 women will be made leaders from Jan Suraaj," Kishor stated.

Private sector must utilise govt schemes for job creation to drive economy: Anand Mahindra

Addressing shareholders at the annual general meeting of Mahindra & Mahindra Ltd (M&M), he reiterated that growth and prosperity must be driven by job creation and it is a collective responsibility of the private sector and the government and broad-based effort is essential for generating employment

Budget shows policy continuity with focus on capex, new-age tech, skilling

The government’s focus on skill and job creation is a good thing. We need an ecosystem that feeds people. Trickle-down economics will help India.

Budget 2024: Can FM Sitharaman Walk The Tightrope To Strike A Balance Between Populism & Prudence?

The Centre has a target of bringing down India's fiscal deficit for FY25 to 5.1% of GDP, but will coalition politics make the govt become more populist in order to pacify allies? What about job creation, which is the opposition’s trump card against the Modi-led govt -- will the FM make it a priority? Tune into Editor’s Take with Stacy Pereira, where she discusses policy expectations from Budget 2024 with Shweta Punj.

Centre dismisses Citigroup's claim that India would struggle to create jobs

The report 'fails to account for comprehensive and positive employment data available from official sources', Ministry of Labour and Employment said.

Formal job creation slows in April, says MoSPI

The overall job addition to EPF was 72 percent higher

Job creation is India's top economic challenge, policy experts say: Poll

Asia's third-largest economy grew more than 8% last fiscal year, driven by government capital expenditure that so far has failed to spark sufficient business spending to create enough work, particularly for young people in a country of 1.4 billion.

SAP Labs India looks to hire 1,000 employees, invest in AI technologies

The company will be looking to hire people with domain expertise in finance, supply chain, sustainability, human experience management, and artificial intelligence along with other core operations.

Apple CEO Tim Cook meets Rajeev Chandrasekhar, discusses manufacturing, exports and R&D

Apple is betting on India as a key manufacturing hub to diversify its production capabilities beyond China

We are heading towards a creative economy and India is unprepared for that: Hotmail co-founder Sabeer Bhatia

Speaking at the NASSCOM Technology and Leadership Summit 2023, Sabeer Bhatia said that 90 percent of business ideas coming out of India are copycat ideas.

FM says Budget for poor, common man; new tax regime to leave higher disposable income in hands of people

Budget 2023 for the fiscal year starting April (2023-24) also provides impetus to green growth, healthcare and keeping the economic engine running with record capital spending, she said.

G20: Urbanisation must be instrument of job creation, poverty elimination, says Amitabh Kant

Speaking at the inaugural session of the two-day Urban20 City Sherpas' inception meeting in Ahmedabad, Kant said cities must be designed for cycling, walking and not for cars, and they must grow and evolve on the bank of transit-oriented development.

Economic Survey 2023: Share of salaried workers declines, net addition in EPF subscriptions increases

Labour markets have recovered beyond pre-Covid levels, in both urban and rural areas, with unemployment rates falling from 5.8 percent in 2018-19 to 4.2 percent in 2020-21.

SMEs on hiring spree, outlook upbeat for 2023 recruitment as well: Report

According to Apna.co report, jobs posted by SMBs clocked a 60 percent surge year-on-year, mainly due to opportunities emerging from across tier 1 and 2 cities like Delhi-NCR, Mumbai and Bengaluru and also from Pune, Ahmedabad and Jaipur.

Waterways key to increase farmers' income, job creation, says Yogi Adityanath

The CM said this as he laid foundation of 47 projects in the district worth Rs 80 crore.

EPFO records 10.58 lakh fresh additions in July

The provisional payroll data highlights that EPFO has added 18.23 lakh net members in July 2022. However, the year-on-year comparison of payroll data reflects an increase of 24.48 percent in net membership addition.

Finance ministry calls meeting with PSB chiefs as branches creak from staff shortage

The ministry has also sought a monthly recruitment plan for jobs from the PSBs at the meeting as staff-shortage impact on PSB operations begins to surface on social media with appalled account holders tweeting out their grievances online.

US labour market defies recession fears as job growth surges in July

The labour market has now recouped all the jobs lost during the Covid-19 pandemic, though government employment remains about 597,000 jobs in the hole. Overall employment is now 32,000 jobs higher than in February 2020

Agnipath, mass recruitment drive reflect Modi government’s commitment to job creation

Like a batter waiting for the right delivery, the Modi government has turned its focus on employment generation at the right time

Majority of India’s 900 million workforce stop looking for jobs

Frustrated at not being able to find the right kind of job, millions of Indians, particularly women, are exiting the labor force entirely, according to new data from the Centre for Monitoring Indian Economy Pvt, a private research firm in Mumbai.