Tata Group To Create 5 Lakh Manufacturing Jobs In 5 Years, Says Chairman N Chandrasekaran

New Delhi: Tata Group plans to create 500,000 manufacturing jobs over the next five years across sectors including semiconductors, electric vehicles, batteries, and related industries, said Chairman N Chandrasekaran on Tuesday. At a symposium hosted by the Indian Foundation for Quality Management, Chandrasekaran emphasised that India cannot achieve its goal of becoming a developed nation without generating manufacturing jobs, as reported by news agency PTI.“Through our investments in semiconductors, precision manufacturing, assembly, electric vehicles, batteries, and related sectors, we aim to create 500,000 manufacturing jobs in the next five years,” he stated. He highlighted the group's upcoming semiconductor plant in Assam and additional manufacturing units for electric vehicles and batteries, saying, “We are establishing several plants.” While he acknowledged not having all the specifics yet, he mentioned that these jobs would have significant multiplier effects. With the necessary ecosystem in place, he noted that a minimum of 500,000 small and medium enterprises would likely emerge. Chandrasekaran praised the government's support for these initiatives and emphasised the importance of job creation in the manufacturing sector. Also Read: SBI To Recruit 10,000 Employees, Expand Branch Network Across India“We cannot achieve the vision of Viksit Bharat if we don't create manufacturing jobs, especially as 1 million people enter the workforce every month,” he said. He further emphasised the need to generate 100 million jobs, highlighting that sectors like semiconductors can create eight to ten indirect jobs for every direct job established.Also Read: TCS To Set Up IT Facility In Visakhapatnam To Generate Over 10,000 JobsNotably, In the financial year ending March 31, 2024 (FY23), India's manufacturing sector experienced a 7.4% increase in employment, adding 1.3 million new jobs compared to 1.1 million in FY22.Data from the National Statistical Organization (NSO) indicates that this growth was fueled by a robust performance in the sector's gross value added (GVA), which rose by 7.3% to reach ₹21.97 trillion at current prices.