In a bold announcement on Tuesday, Tata Group Chairman N. Chandrasekaran revealed plans to create 500,000 manufacturing jobs over the next five years. This initiative will span various sectors, including semiconductors, electric vehicles, batteries, and related industries.
Speaking at a symposium organized by the Indian Foundation for Quality Management, Chandrasekaran stressed the critical role of manufacturing job creation in India’s ambition to become a developed nation.
“Through our investments in semiconductors, precision manufacturing, assembly, electric vehicles, batteries, and related sectors, we aim to create 500,000 manufacturing jobs in the next five years,” he stated.
Chandrasekaran highlighted the group’s upcoming semiconductor plant in Assam, along with plans for additional manufacturing units dedicated to electric vehicles and battery production. While he acknowledged that specific details are still being finalized, he underscored the potential for these jobs to generate significant multiplier effects in the economy. “With the necessary ecosystem in place, we anticipate that a minimum of 500,000 small and medium enterprises will likely emerge,” he noted.
The chairman lauded the government’s support for Tata’s initiatives and reiterated the importance of job creation in the manufacturing sector. “We cannot achieve the vision of Viksit Bharat if we don’t create manufacturing jobs, especially as 1 million people enter the workforce every month,” he remarked. He further emphasized the need to generate 100 million jobs, highlighting that sectors like semiconductors can create eight to ten indirect jobs for every direct position established.
Chandrasekaran’s comments come at a time when India’s manufacturing sector is showing promising growth. According to data from the National Statistical Organization (NSO), the sector saw a 7.4% increase in employment during the financial year ending March 31, 2024, adding 1.3 million new jobs compared to 1.1 million in the previous fiscal year. This growth has been attributed to a robust performance in the sector’s gross value added (GVA), which rose by 7.3% to reach ₹21.97 trillion at current prices.
