The investment climate is going well in India and the private sector should skill their workforce in the interest of its business, Chief Economic Advisor K V Subramanian said on Thursday asserting that he does not foresee any difficulty in demand and supply of the workforce.
Addressing 'Times Network India Economic Conclave', Subramanian further said job creation is part of the virtuous cycle that starts with private investments flowing into the country resulting in production, growth, job creation and increase in aggregate demand which in turn leads to more investments in the economy.
“The investment climate is going well in India. Other things will follow, though with a lag...It is for the private sector to start recognising that it is in their own business interest that they should skill their workforce. This, in turn, will raise the average level of skills in India,” he said.
As far as skilling is concerned, Subramanian said he does not foresee any difficulty in demand and supply of the workforce.The economic reforms have been done keeping in mind the problem of dwarf firms in India, the CEA said adding these are the firms which grow in size and age but do not create jobs.