Home Economy and Finance MSME sector created around 1.5 crore jobs each year in last 4 years, CII finds in its latest survey

MSME sector created around 1.5 crore jobs each year in last 4 years, CII finds in its latest survey

It was one of the largest job surveys done by CII covering over a lakh enterprises

Amid all the claims of jobless growth during the term of Modi government, a survey conducted by Confederation of Indian Industry (CII) has found an increase of 13.9% in net job creations in the MSME sector over the last four years. In the largest ever survey specific to Micro, Small & Medium Enterprises, over one lakh firms of various sizes were included across various sectors and geographies.

CII is India’s premier business organisation, it is a non-government, not-for-profit, industry-led and industry-managed body. It has over 9,000 members, and indirect membership of over 3,00,000 enterprises through around 265 national and regional sectoral industry bodies.

“The survey establishes a growth of 3.3 per cent (compounded growth rate) per annum. When mapped to the macro level data sourced from Labour Bureau, this works out to an estimated additional job creation to the tune of 13.5 to 14.9 million per annum”, said Mr Rakesh Bharti Mittal, President of CII. The total strength of labour forces is estimated at about 45 crore in the year 2017-18 using data from labour bureau.

- Ad - - article resumes -

According to the survey, Hospitality & Tourism was the top job generating sector, followed by Textiles & Apparel, Metal Products, Machinery Parts and Transport & Logistic. “The survey also reveals that the Micro enterprises were the largest job creators in the past four years and will continue to be so in the next three years” CII Director General Mr Chandrajit Banerjee said.

The survey indicates the higher growth on employment generation will continue for next two-three years. It is expected that government initiatives like the 2 per cent interest rate subvention given to all MSMEs and Trade Receivable e-Discounting System (TReDS) implemented recently would drive future growth leading to more employment. “However, the CII survey highlights the need for greater hand-holding of the MSMEs who are still to take full advantage of these Government initiatives,” said Mr Banerjee.

The survey by CII shows that a majority of enterprises were able to fill vacancies under a month, indicating higher availability of skilled manpower. “The survey has indeed thrown up the most promising outcomes. There is a very healthy growth in employment among the MSME segment of industry and with the kind of disruptions and innovations that are likely to sweep through industry in terms of new technologies and practices, our skills development front is also undergoing rapid changes,” said the CII President.

CII conducted the survey in about n350 industrial locations in 28 states in India, and covered 105,347 MSMEs. The survey included queries on jobs creation, ease of filling up vacancies, impact of Government initiatives on jobs creation by the MSMEs.

Help Opindia Reach Every Indian. Share This Post
We need your support to survive in the media industry. Please consider paying us for the content we produce:

To know more about these payments, please click here.


Big Story

Strange rumours are coming out of Kashmir. Shah Faesal, supposedly, is Doval's stooge.

2019 World Cup Is Here!

Catch the latest on Cricket World Cup as it unfolds, special coverage by Opindia

To Advertise on Opindia.com Click here

Here is why Prannoy Roy and Radhika Roy were stopped at the airport and were not allowed to leave the country

Radhika and Prannoy Roy of NDTV have said that they were not allowed to leave the country because of a concocted ICICI loan case. Read about that case in details

P Chidambaram finally arrested by CBI after officers scale wall of his residence as the gates were locked

Chidambaram arrested from his residence after he addressed a press conference at Congress office

Is Shah Faesal Ajit Doval’s asset? Unlikely, Swati Chaturvedi may be unwittingly helping the central government

Strange rumours are coming out of Kashmir. Shah Faesal, supposedly, is Doval's stooge.

Read full details of new FIR filed by CBI: Prannoy Roy, Radhika Roy and Vikram Chandra accused of criminal conspiracy, cheating and corruption

A new FIR has been filed by the CBI against Prannoy Roy, his wife, Radhika Roy, and former CEO of NDTV, Vikram Chandra in a case related to money laundering.

Poetic Justice: P Chidambaram falsely hounded Amit Shah and Narendra Modi, now he is on the run for his own transgressions

When P. Chidambaram was the Union Home Minister, Amit Shah was unceremoniously arrested and slapped with charges of murder, extortion, and kidnapping among others over the Sohrabuddin encounter case.

The Zomato controversy: Their business plan, the dispute and a dark tale of greed, exploitation and fear

The controversy stems from deep discounting, favouritism, monopolistic trade practices amongst others, creating a rift between the delivery platforms like Zomato and Restaurateurs

All that Pakistan is left with is a war of misinformation: Here are the myths and propaganda about Kashmir

Pakistan has gone to the two of the most dangerous forces for support- A fanatic faith and cruel communism, latter being more fanatic than the former.

You are a glorified broker who takes all the credit for our product: Restaurateur rips Zomato apart in an open letter

'You are merely a delivery agency. It is not your product. Just do your job and deliver the food', restaurant owner writes to Zomato

19 hours and counting: P Chidambaram abandoned his driver after leaving SC, phone switched off, untraceable since then

Earlier today, a lookout circular was issued against Chidambaram after he was refused interim relief from the Supreme Court.

Dear Mao-Lenin crossbreed left-liberal gang, had you done journalism properly, we wouldn’t exist

Dear mainstream media, If YOU hadn't sold your pen, we wouldn’t have to pick ours
Subscribe to Day's Top Stories
[newsletter_form type="minimal"]
- Advertisment -

Latest articles

Connect with us

181,034FansLike
171,624FollowersFollow
90,109SubscribersSubscribe
Help Opindia Reach Every Indian. Share This Post