Eighth South and South-West Asia Subregional Forum on SDGs

Context:

India is making significant progress in promoting decent work and economic growth, as highlighted in recent discussions at the Eighth South and South-West Asia Subregional Forum on SDGs. The forum, co-hosted by NITI Aayog and UN ESCAP, brought attention to the country's commitment to inclusive economic development. Here's an overview of key highlights from the session chaired by Ms. Sumita Dawra, Secretary of the Ministry of Labour and Employment:

Economic Growth and Poverty Alleviation

• India’s GDP Growth: The GDP growth rate is projected at 7% for FY 2024-25, driven by successful poverty alleviation programs.
• Poverty Reduction: Approximately 250 million people have moved out of multidimensional poverty in recent years due to effective government initiatives, contributing to the country's focus on inclusive growth.

Social Protection Improvements

• India has significantly enhanced its social protection coverage, with the International Labour Organization’s (ILO) World Social Protection Report 2024-26 indicating that India has doubled its coverage estimates.
• The Targeted Public Distribution System (TPDS), one of the world’s largest legally binding social assistance schemes, provides food security to about 800 million people.

Employment Trends and Statistics

• Unemployment Rate: The unemployment rate in India has decreased from 6% in 2017-18 to 3.2% in 2022-23.
• Employment Rate: The employment rate has increased from 46.8% to 56% over the same period, with growth in sectors like services, construction, and logistics driving job creation.

Formalisation of the Labour Market

• Employees’ Provident Fund (EPF): Over 64 million net subscribers have joined the EPF in the last six years.
• Employment Linked Incentive (ELI) Schemes: Introduced in the 2024-25 Budget, these schemes are designed to create quality jobs and provide incentives to first-time employees and rejoiners.

Leveraging Technology in the Labour Market

• India is improving labour market efficiency through technology:
• The National Career Service (NCS) portal connects job seekers with employers.
• The e-Shram portal has registered over 300 million workers in the unorganised sector, offering access to social security and welfare benefits.

Labour Law Reforms

• India has consolidated 29 labour laws into 4 simplified codes, aiming to:
• Improve working conditions and productivity.
• Provide better social security for gig and platform workers.

International Cooperation and Global Workforce

• India's G20 Presidency has enhanced its international cooperation, especially with organizations like the ILO and OECD, to develop frameworks for skill recognition.
• This will facilitate cross-border labour mobility and promote decent work practices globally.

Transformative Growth in Employment

• India’s demographic advantages position it as a key player in the global workforce. The government's proactive measures are set to transform the employment landscape, ensuring that India plays an important role in the evolving global economy.

India is making strides in fostering inclusive economic growth, improving employment rates, and enhancing social security. Through a combination of policy reforms, technological innovation, and international cooperation, the country is setting the stage for a transformative green transition and a sustainable workforce.