Prime Minister Narendra Modi on Saturday asserted that India is rapidly advancing towards becoming the world’s third-largest economy, crediting the nation’s 11-year-long growth across sectors, especially manufacturing and employment generation.
Addressing the 16th edition of the Rozgar Mela, PM Modi highlighted the government’s proactive efforts to strengthen job creation and boost private sector participation through initiatives like the Employment Linked Incentive (ELI) scheme.
“Under the ELI scheme, the government will provide Rs 15,000 to youth securing their first private sector job, effectively contributing to their first salary. With a budget of Rs 1 lakh crore, this initiative is expected to generate approximately 3.5 crore new jobs,” PM Modi said.
Calling manufacturing one of India’s “greatest strengths,” the Prime Minister said the sector is creating millions of new jobs, aided by policies like Mission Manufacturing and the expanded Make in India campaign.
He especially emphasized the electronics and mobile phone manufacturing boom: “The mobile phone and electronics sector has grown more than five times in the last 11 years, with production reaching Rs 11 lakh crore. From just 2-4 units a decade ago, India now hosts over 300 manufacturing units, employing lakhs of youth,” he said.
PM Modi also spotlighted the defence manufacturing sector, referencing recent developments post Operation Sindoor: “India is setting new records in defence production, which has now crossed Rs 1.25 lakh crore,” he noted, adding that such growth demonstrates India’s strengthening economic and strategic autonomy.
Quoting a recent International Labour Organisation (ILO) report, PM Modi highlighted the indirect job creation resulting from government welfare schemes: “Over 90 crore citizens are now covered under various welfare initiatives. These schemes not only uplift lives but also generate employment, particularly in rural areas. For instance, the construction of over 4 crore houses under Pradhan Mantri Awas Yojana has led to massive job creation at the grassroots level.”
The Prime Minister concluded by reaffirming his government’s commitment to transforming India into a “Viksit Bharat” (Developed India), powered by its youth and a robust, job-driven economy.
