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Around the web – 5 million jobs shed in India

05 March 2013

India lost 5 million jobs during 2005 and 2010, particularly in the manufacturing sector, India Today writes. This is mainly due to stagnation in the industry’s GDP growth rate with many other emerging countries outperforming India.

Chief economist at the analytical company CRISIL, D.K. Joshi, said: “The country needs to develop infrastructure, like China, to attract industry. There is a lot of scope for creating jobs in the manufacturing sector - in industries such as food processing, textiles and leather goods. But proper infrastructure has to be created to get things going”

But sectors that have seen growth include the construction industry which posted robust employment growth. Read the whole article here.

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