By 2020, median age in India will be 28.1 years

Planned skill development would help India make productive use of its young population, says parliamentary committee

GN Bureau | January 5, 2017


#PRS Legislative Research   #Japan   #China   #India   #Parliamentary Committee   #GDP   #Economy  
Representational image

In the next three years, the median age in India is projected to be 28.1 years, as compared to China (38.1 years), Japan (48.2 years) and USA (37.3 years), said a report of the standing committee on the industrial policy in the changing global scenario.

The report said that presently, a majority of the working population in the country is in the unorganised sector, making it difficult to gauge the skill requirement in the sector.

The committee recommended that planned skill development would help India make productive use of its young population. The low cost of production in India will also help in giving it a competitive global advantage in manufacturing and production, said a summary of the report prepared by PRS legislative research.

On industrial reforms, the committee noted that reforms must be taken up regarding a number of aspects in the industrial sector. To ensure transparency in the allocation of natural resources, an open, competitive mechanism must be undertaken, along with greater disclosure of the approval process for industries.

Other reforms suggested include industry-friendly land acquisition frameworks by state governments, anti-corruption reforms, better inter-ministerial coordination, and judicial, financial and efficient public procurement reforms. The National Manufacturing Policy must be reoriented to promote smart manufacturing, which includes zero emission, zero-incident, and zero-defect manufacturing.

On research and development, the committee noted that the manufacturing sector is mainly composed of low value addition industries, and thus cannot create technological capabilities. India’s manufacturing value addition is $226 billion, compared to China’s $1,923 billion and USA’s $1,856 billion. In addition, India spends 0.8% of its GDP on research and development, compared to 1.2% by China and 2.6% by USA.

The committee recommended that the government needs to provide an enabling environment for private enterprises to invest in technology creation in order to achieve high value addition. Special focus must be placed on machine tools, heavy electrical equipment, transport and mining equipment.

Regarding foreign direct investment in small enterprises, the committee noted that the recent measures taken to promote foreign direct investment (FDI) mainly benefit large industries. It recommended that the government may take measures to promote FDI in the small and medium enterprises sector. In addition, for FDI in any industry, the ownership may be allowed to be transferred to the Indian partner after a specified period (15-20 years), including the transfer of technology. Foreign investors may be encouraged to source their inputs other than technology, from within India.

Read: Labour laws are not a problem to industrial development

 

Comments

 

Other News

SC issues notice to Govt, TRAI, Facebook, WhatsApp over data privacy

The supreme court on Monday has issued notice to the government, telecom regulatory authority of India (TRAI), WhatsApp and Facebook regarding data privacy. The issue was first taken up by the Delhi high court last year, based on a PIL filed by two law students, Karmanya Singh Sareen and Shr

Digital literacy awareness programme for senior citizens in Mumbai

A digital education and awareness programme was organised by Centre for the Study of Social Change (CSSC) under union ministry of social justice and empowerment. Principal Advisor, CSSC and former Mumbai Mayor, Advocate Nirmala Samant Prabhvalkar explained to senior citizens about how to us

India fares poorly in global talent competitiveness index

India stood 92nd in the latest rankings of the global talent competitiveness index. Switzerland topped the rankings, with Singapore coming second. United Kingdom was in the third position. The report accompanying the rankings said that India’s information technology (IT) sector is alre

Gandhigiri, chamchagiri and the spinning-wheel doctors

There are two kinds of acts from the so-called fringe elements of the BJP: one embarrasses only the secular-liberals but resonates well with the party’s core constituency, and the other embarrasses the party more than the rest. Sakshi Maharaj’s latest rant is of the first type.

About 2.68 crore disabled in India: Govt report

As per census 2011, in India, out of the 121 crore population, about 2.68 crore persons are ‘disabled’ which is 2.21 percent of the total population. In an era where ‘inclusive development’ is being emphasised as the right path towards sustainable development, focussed initiatives f

44 high potential regional connectivity scheme airports in India: Report

As many as 44 high potential RCS airports have been identified from among 414 airfields available in India, said a report. The FICCI-KPMG report has presented over 370 possible destinations from the high-potential RCS airports, the projected financial statements for four aircraft types and s

Video

एक प्रतिशत लोगों के पास देश की 58 प्रतिशत संपत्ति

Current Issue

Opinion

Facebook    Twitter    Google Plus    Linkedin    Subscribe Newsletter

Twitter