India needs to create jobs in textile, garments and leather for its unskilled youth, Zarin Daruwala, chief executive officer (CEO), Standard Chartered Bank India, said recently. NITI Aayog CEO Amitabh Kant urged the judiciary to set up commercial courts for fast resolution of commercial cases and to improve India’s global ranking in contract enforcement.
Both were addressing the Economist India Summit 2018 in New Delhi. NITI Aayog is a government think tank.
Though India has improved its ease of doing business ranking, according to a World Bank report, the country ranked 164th out of the 190 countries in contract enforcement.
Kant highlighted that eastern states like Odisha, Jharkhand and Chhattishgarh are doing extremely well in ease of doing business ranking.
The wages in 100 poorest districts in the country are low and comparable to Bangladesh and therefore, India should focus on creating more jobs for the unskilled and the uneducated, Daruwala said. (DS)
Fibre2Fashion News Desk – India