India needs to grow at 12.2% annually to tackle underemployment
India has a big challenge ahead: to solve its underemployment crisis, the country needs to grow at 12.2% every year—way faster than its current pace.
Right now, youth unemployment is at 17.6% (the highest in the region), and more people are turning to agriculture jobs than we've seen in 17 years.
If things don't speed up, India's hopes of becoming a global economic leader could take a hit.
Report emphasizes need for investments in manufacturing, tech skills
With about 84 million new workers expected over the next decade, India's current GDP growth of 7.8% just isn't enough.
Plus, advances in AI and automation threaten traditional job sectors, making it even tougher for young people entering the workforce.
The report urges investments in manufacturing and tech skills so India's youth can find better opportunities—and help drive the country forward.