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“ELI is designed to incentivize the hiring of additional workers, particularly in the manufacturing sector, by offsetting the cost of employing new workers,” she said while speaking at the Global Economic Policy Forum 2024 organised by the Confederation of Indian Industry (CII).
“The scheme aims to boost labour formalization, enhance the employability of workers, and support job creation in key manufacturing industries,” she said, urging industry to collaborate with the government on the scheme.
According to Dawra, India’s working age-population will constitute about 65% of its total population by 2030, positioning India as a key player in addressing global labour shortages.
Dawra also urged industry to leverage new technologies, policies and practices to make India a manufacturing powerhouse, citing the example of India’s growing role as a hub for Global Capability Centres (GCCs) that employ millions of Indians in sectors like engineering, technology, and AI to contribute to global innovation while supporting India’s domestic manufacturing capabilities.
India is poised to be a major contributor to the global workforce, with about 24% of the incremental workforce in the world expected to come from India in the next 10 years, she added.Highlighting the strength of India’s manufacturing sector, Dawra said initiatives such as Make in India and Production Linked Incentive (PLI) scheme have helped India emerge as a global leader in sectors like automobiles, pharmaceuticals, textiles, renewable energy, electronics, engineering goods, among others.“India’s manufacturing competence is built on cost efficiency, skilled workforce, and government support. With continued investment in key sectors, we will further enhance our global positioning,” she said, adding that the ongoing labour reforms, including codification of 29 labour laws into four Labour Codes, will simplify compliance, reduce complexity, and promote ease of doing business in the country.
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