Exploring India's Employment Crisis and Entrepreneurship Initiatives in Assam

India lost 41 million jobs in 2020 due to the Covid-19 pandemic.

India has been grappling with a severe employment crisis for several years now. Here are some facts that shed light on the situation:

According to the Centre for Monitoring Indian Economy (CMIE), India’s unemployment rate reached a 4-month high of 8.8% in March 2021, up from 6.9% in February 2021.

The unemployment rate among the youth in India is particularly high. According to a report by the Centre for Sustainable Employment at Azim Premji University, the unemployment rate among those aged 20-24 was 32% in 2018-19.

The COVID-19 pandemic has exacerbated the employment crisis in India. According to the International Labour Organization (ILO), India lost 41 million jobs in 2020 due to the pandemic.

The employment crisis in India is also characterized by a lack of quality jobs. According to a report by the ILO, over 80% of Indian workers are in informal employment, which is often characterized by low wages, lack of job security, and poor working conditions.

The Indian government has launched several initiatives to address the employment crisis, such as the National Employment Guarantee Act (NREGA) and the Skill India Mission. However, the impact of these initiatives has been limited, and the employment situation in India remains a major challenge.

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What about entrepreneurship changes in Assam?

Assam has been taking various initiatives to promote entrepreneurship and create an enabling environment for start-ups. Here are some recent changes:

Startup Policy: In 2017, the Assam government launched its Startup Policy to promote entrepreneurship in the state. The policy aims to provide financial and technical support to startups, create a conducive ecosystem for innovation and entrepreneurship, and generate employment opportunities.

Assam Startup – The Nest: In 2018, the government of Assam launched ‘Assam Startup – The Nest’, which is a first-of-its-kind incubation centre in the northeast region of India. The Nest provides a co-working space, mentoring, networking, and funding support to startups.

Assam Agri-Business and Rural Transformation Project (APART): In 2019, the World Bank approved a $200 million project called APART to promote agri-entrepreneurship and rural transformation in Assam. The project aims to provide technical assistance and funding to farmers, agri-entrepreneurs, and rural enterprises.

Financial incentives: The Assam government provides various financial incentives to startups, such as seed capital, interest subsidy on loans, and reimbursement of expenses for filing patents and trademarks.

Skill development: The government of Assam has taken several initiatives to promote skill development and provide training to aspiring entrepreneurs. For instance, the Assam Skill Development Mission provides skill training to youth in various sectors, including entrepreneurship.

Overall, these initiatives have created a supportive ecosystem for startups and entrepreneurs in Assam. However, more efforts are needed to address challenges such as access to finance, infrastructure, and regulatory compliance.

You need to understand all these data to understand the current & future scenerio.

Let’s break this down into points:

Consulting firms can play an important role in promoting growth in the employment sector by providing advisory services to businesses and governments. Here are some ways that manpower consulting firms can contribute to job creation and economic growth:

Strategic Planning: Consulting firms can help businesses and governments develop strategies for promoting job creation and economic growth. They can provide insights on market trends, industry best practices, and policy frameworks that can help create a conducive environment for employment growth.

Skills Development: Consulting firms can work with businesses and governments to develop training and skills development programs that can enhance the employability of the workforce. This can include programs on entrepreneurship, innovation, and digital skills, which are increasingly important in the modern job market.

Investment Promotion: Consulting firms can help attract domestic and foreign investment to create job opportunities. They can assist businesses and governments in identifying and promoting investment opportunities, conducting feasibility studies, and providing market research.

Sectoral Analysis: Consulting firms can conduct research and analysis on different sectors of the economy to identify areas for job creation and growth. This can include identifying emerging industries, analyzing supply chains, and assessing the competitiveness of different sectors.

Policy Design: Consulting firms can provide advice and support in the design and implementation of policies and programs aimed at promoting job creation and economic growth. They can help identify best practices, benchmark against other countries, and provide technical assistance in policy implementation.

Overall, consulting firms can play a vital role in promoting job creation and economic growth by providing strategic advice, skills development, investment promotion, sectoral analysis, and policy design.

…and We at Silchar Job Consultancy as responsible Leaders in Contract Staffing, Payroll Outsourcing & Temporary Staffing, will try best to level up our games. SJC WILL ALWAYS help you find your new/next job; we also aim to work with great professional companies to enhance the growth of employment across Silchar, Assam, Northeast & India.

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