Tata Group to create 5 lakh jobs across sectors in next five years

Tata Group will create 5 lakh manufacturing jobs in the next five years across sectors such as semiconductor, electric vehicles, battery and related industries, its Chairman N Chandrasekaran said on Oct 15.

Speaking at a symposium of Indian Foundation for Quality Management, the Tata Sons Chairman asserted that India cannot achieve the goals of being a developed nation, if the country cannot create manufacturing jobs.

"... Between our (Tata Group's) investments in semiconductors, our investment in precision manufacturing, assembly, electric vehicles, batteries and related industries, I think we will create five lakh manufacturing jobs in the next five years," he said.

Citing the group's upcoming semiconductor plant in Assam and other new manufacturing units for electric vehicles and battery, he said, "we are setting up a number of plants".

While he has not got the full details, Chandrasekaran said based on "basic math", these jobs will have multiplier effects.

As the ecosystem has to be set up, he said a minimum 5 lakh companies — small, medium-scale companies would also come up in the ecosystem.

He acknowledged the government's support in these initiatives and stressed on the need for creating jobs in the manufacturing sector.

"We cannot achieve the goals of Viksit Bharat if we cannot create manufacturing jobs, because we all know 1 million people are coming to the workforce every month," he said.

Chandrasekaran further said, "We need to create 100 million jobs." He asserted the significance of new-age manufacturing like semiconductors, which creates eight to ten indirect jobs for every single job created.

(PTI)