Tata Group will create 5 lakh manufacturing jobs in five years, said N Chandrasekaran

Tata Group chairman N Chandrasekaran on Tuesday said his group will create five lakh jobs in the manufacturing sector related to semiconductors, electric vehicles, batteries and related sectors over the next five years.

During a seminar organised by the Indian Foundation for Quality Management, Tata Sons chairman said if India cannot generate employment in the manufacturing sector, it cannot grail the ambition of becoming a developed nation.

He said, ". Between our investments in semiconductors, our investments in precision manufacturing, assembly, electric vehicles, batteries and allied industries, I think we will create five lakh manufacturing jobs over the next five years." Citing Tata Group's proposed semiconductor plant in Assam and other new manufacturing units for electric vehicles and batteries, he said, "We are setting up many plants."

Though he is yet to get the full details, Chandrasekaran said based on "basic maths", these jobs will have a multiplier effect. He said since the ecosystem is to be set up, at least 5 lakh companies - small medium-scale companies - will also come into the ecosystem.

He praised these efforts of the government and emphasized that manufacturing has to be supported because it is about creating jobs. "If we cannot create jobs in the manufacturing sector we cannot achieve the goals of developed India, because we all know that 10 lakh people are joining the workforce every month," he said. "We have to create jobs of 10 crores," added Chandrasekaran. He further said new-age manufacturing such as semiconductor manufacturing, creates eight to ten indirect jobs for every one job created.