Meghnad Desai asserts that creating manufacturing jobs is the key to eradicating poverty in India(read Sub-Saharan Africa)
"...A massive employment creation programme, not employment guarantee is needed. No country has grown rich without taking its rural population off the farms and putting it into factories. India has to tackle that urgently. The stagnation(read absence for SSA) in manufacturing has to be reversed. This can only be done if manufacturing is growing at high double-digit rates. China doubled its manufacturing labour force from 53 million to 103 million in 20 years from 1981 to 2002. Its manufacturing value-added grew eight times over that period at 25 per cent per annum, while India managed only 6 per cent. India can double its manufacturing employment in the next 20 years, if not faster..."
Via Venture Intelligence
"...A massive employment creation programme, not employment guarantee is needed. No country has grown rich without taking its rural population off the farms and putting it into factories. India has to tackle that urgently. The stagnation(read absence for SSA) in manufacturing has to be reversed. This can only be done if manufacturing is growing at high double-digit rates. China doubled its manufacturing labour force from 53 million to 103 million in 20 years from 1981 to 2002. Its manufacturing value-added grew eight times over that period at 25 per cent per annum, while India managed only 6 per cent. India can double its manufacturing employment in the next 20 years, if not faster..."
Via Venture Intelligence
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