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India focussing on innovation & skill development to generate employment: Kochhar

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The renewed focus on manufacturing sector, innovation and skill development will create millions of new jobs in India, top banker Chanda Kochhar said today as leaders from neighbouring countries Pakistan and Sri Lanka also vowed to take steps to boost employment generation.

Speaking here at a WEF Annual Meeting session on ‘Transforming South Asia’, Kochhar said, “India has been so far growing on services sector growth but the country is now focussing on manufacturing also which will create millions of new jobs.”

With Pakistan Prime Minister Nawaz Sharif and Sri Lanka Prime Minister Ranil Wickremsinghe on the panel, Kochhar said that in terms of creating jobs, India is also focussing on innovation and skill development.

Sharif said that Pakistan is also focusing n skill development as 70 per cent of the country’s population is below the age of 30 years.

“There are a lot of institutions providing skills to these people. Government is also providing more money so that applicants can get easy loan.

“This is getting momentum in Pakistan. We want our young people and SMEs to become a major part of the economy for both exports and Pakistani markets,” he added.

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