News of the Day Only 3.32 lakh MSME jobs created in last four years, finds CII survey

The number of net jobs created in the Micro, Small and Medium Enterprises (MSME) sector in the last four years stood at just 3,32,394, which is 13.9% higher than the base four years ago, according to a CII survey of more than one lakh companies.

The findings for the four-year period — beginning 2015-16 — pale in comparison with that from the government’s Ministry of Micro, Small & Medium Enterprises for an earlier period, which shows 11,54,293 MSME jobs were created in the three years ended 2014-15.

The survey shows just three States — Maharashtra, Gujarat, and Telangana — accounted for over 50% of the jobs created in this period (2015-16 to 2018-19).

Most in micro sector

It also shows that 73% of the jobs were created by micro enterprises.

“‘Net jobs created’ is defined as recruitment, less exits,” the report said.

“Out of the survey sample, 70,941 firms were responsible for this increase. On the whole, nearly two-thirds of the respondents witnessed an increase in hiring activity over the last four years, while 17% witnessed no change.”

According to the survey, micro enterprises were the largest job generators, having created 2,40,713 jobs or 73% of the net jobs created in the last four years. Small enterprises, on the other hand, accounted for 23% of the net jobs created, while medium enterprises accounted for just 4%.

Looking at the sectoral break-up, the hospitality & tourism sector accounted for 12% of the jobs, while the textiles & apparels and metal products sectors each contributed about 8% to job creation.

“The other large job generators were machinery parts (7%) and transport & logistics (7%),” the report said. “The top five sectors accounted for over 40% of the jobs, indicating a degree of sectoral concentration.”

“The concentration in terms of geographic dispersion of jobs created was also noticeable, with three States — Maharashtra (29%), Gujarat (14%) and Telangana (10%) — accounting for 54% of the jobs created in the last four years,” the report said.

“The top eight States accounted for over 80% of the jobs.” The survey also found that 5,70,804 jobs are expected to be created over the next one year, which represents a 21% increase over the current employment base. The trend seen in the last four years in terms of sectoral break-up will remain largely the same, the report added.

India sending envoy back to Pakistan on Saturday

India on Friday took a step towards de-escalation of tension with Pakistan and announced that the Government’s envoy will return to Islamabad on Saturday.

“High Commissioner of India to Pakistan, Ajay Bisaria, is returning to Islamabad after having completed his consultations in India. He will reach Islamabad on 9 March, and resume his duties,” stated Raveesh Kumar, official spokesperson of the Ministry of External Affairs.

 The announcement follows days after Pakistan declared that Prime Minister Imran Khan would send High Commissioner Sohail Mahmood back to Delhi. Diplomatic sources informed that the Pakistan envoy will also return to Delhi on Saturday.

Both countries had withdrawn the envoys following a spike in tension in the aftermath of the terror attack in Pulwama and the Indian military action in Balakot, inside Pakistan.

Prime Minister Khan met Pakistan’s envoy to India on Friday and discussed the upcoming India-Pak engagements.

Both sides are expected to take up the Kartarpur Corridor project when a Pakistan delegation visits India on 14 March. India is expected to send a delegation for the same on 28 March.

 Significantly, Islamabad hosted Saudi Arabia’s Minister of State for Foreign Affairs, Adel Al Jubair on Thursday.

Source – The Hindu

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