Chief Economic Advisor K V Subramanian has said that the investment climate is going well in India and the private sector should skill their workforce in the interest of its business. He noted that this, in turn, will raise the average level of skills in India. As far as skilling is concerned, he said he does not foresee any difficulty in demand and supply of the workforce.
Subramanian further said job creation is part of the virtuous cycle that starts with private investments flowing into the country resulting in production, growth, job creation and increase in aggregate demand which in turn leads to more investments in the economy.
The CEA said the economic reforms have been done keeping in mind the problem of dwarf firms in India, and these are the firms which grow in size and age but do not create jobs. He also noted that there is no short-term silver bullet to growth and job creation. Noting that the emphasis has been enabling primary and secondary sectors of the economy, he said the secondary sector is extremely critical for job creation.