Central Institute of Business Management Research and Development is in the practice of hosting annually the Central India Management Conclave (CIMC), a platform for academicians and corporates to express their views on various topics. This year, the 11th CIMC in a row was held on the subject “Unemployment: Causes, Concerns and Cures”. The topic was suggested to mark the 89 years of International Unemployment Day (6th March, 1030).
The panelists comprised Dr Shriniwas Khandewale, noted economist, Dr.Vinayak Deshpande, eminent academician, Shivkumar Rao, President, Vidarbha Economic Development, Pradeep Maheshwary, Vice President, Vidarbha Economic Development, Mrudul Chakrawarty, Head HR, TCS and Secretary of NHRDN, Anita Rao, entrepreneur and representing VIA, Mangesh Gomase, from Sakal, representing and Bhagyashree Banait, Director, Sericulture. Ms Banait inaugurated the programme and Rishi Chourasia from Vikalp Education moderated it.
Ms Rao said the population is the main problem of unemployment in India. The other reasons are faulty education system, lack of adequate infrastructure. She also said that only 4.6 people, according to NITI Ayog report are employable and there are reports that a lot of startups too could not survive.
Mr Chakrawarty, said that people are worried that artificial intelligence and machines will take over human jobs but actually it does not happen that way. The fact is that new skill sets needs to be taught keeping in mind skills required for industry. Behavioral aspects too have to be considered in framing curriculum of education. Dr Deshpande said according to the law of elasticity of employment, if the GDP is greater than 10% than 1% of employment takes place. He further said the manufacturing sector has seen less investment in the recent past, which could be one of the causes of unemployment. Dr..
Dr Khandewale spoke about rural unemployment. He informed that 1% reduction in GDP takes away about 10,00,000 jobs. It is also the reason for NPAs. If there is declined in capital collection then jobs are affected.
Mr Rao said we are not growing at the required rate. Hence unemployment is observed. A behavioural problem has given rise to our unemployment issue.
Maheshwary opined that lots of opportunities are there but are not exploited. There are ample of opportunities in drinking water business, water management, solar management, minerals management and natural resources management.
Finally to surmise a fundamental shift in mindset is the need of the hour. Education alone cannot make way for progress. Right policies alone cannot bring positive results. And a different government too cannot solve the problem overnight.
We require creating an inclusive space that embraces cultures, innovation and research. We must build quality institutions those can impart education of the similar stature to each and all. We must focus on developing the aptitude and skills that respond to the global market.