Growth of labour-intensive manufacturing key to Indian economy
Jayarama Emani | The Dollar Business “Increasing the contribution of labour-intensive manufacturing to the Indian economy will be essential if India is to employ its booming population,” said, Martin Haythorne, Deputy Global Head of Banking and Co-Head of Banking, Asia-Pacific, HSBC. He also added that according to HSBC Global Research, India’s workforce will expand by 1.5 per cent annually over the next five years, meaning the economy will need to grow by 7.5 per cent a year just to generate enough new jobs for the young. Stating that Japan will be funding India’s next growth phase, Martin said that Japanese institutional investors are seeking to export more capital to create the wealth required to fund the country’s ageing society. ...
