Growth momentum in India may turn out to be a “jobless growth scenario” in the next 3 years, if the manufacturing sector fails to pick up, said brokerage house Kotak Securities.
According to Kamlesh Rao, MD and CEO of the firm, job opportunities in the services sector — a key contributor of employment — are expected to reduce in the current economic scenario. “The services sector, which fuels job growth, will definitely go down. And so, the manufacturing sector is needed which can create job opportunities”, he said. ...
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