'India has wage problem, not job problem', believes TV Mohandas Pai

Pai said the data on unemployment put out by the Centre for Monitoring Indian Economy (CMIE) that 11 million jobs were lost in 2018 was erroneous

Former Infosys CFO and multi-sector investor T V Mohandas Pai has said India does not face a job problem, but one of wages, as a lot of low paid jobs being created do not find favour with degree holders.

"India is not producing good jobs, but creating a lot of Rs 10,000-Rs 15,000 low-paid jobs which are not fancied by degree holders. India has a wage problem, not a job problem," he told PTI.

Also, India has regional and geographical problems, Pai said.

Pai suggested that India adopt the Chinese model of opening up labour-intensive industries and building infrastructure near coasts, besides investing