2 hrs ago
Modi Links Trade Deals to New Youth Employment Opportunities
Narendra Modi said trade agreements can help young people in India find more opportunities.
India has signed 40 free trade agreements.
One agreement with the United Kingdom began on July 15.
It lowers or removes tariffs on many goods traded between the two countries.
Modi also discussed a plan to help 20 million young people enter formal jobs.
The plan gives support to first-time workers and employers that create new jobs.
At the event, more than 51,000 people received government appointment letters.
Modi said education, skills, startups and economic growth will help young Indians prepare for future work.
Prime Minister Narendra Modi said India’s 40 trade agreements are opening markets and career opportunities for young people.
The United Kingdom–India Free Trade Agreement came into force on July 15, reducing tariffs on goods traded between the countries.
More than 51,000 appointment letters were issued at a virtual government employment event held across 45 locations.
India’s employment incentive scheme aims to bring 20 million young people into the formal workforce and reward employers creating additional jobs.
Modi cited India’s startup sector, 7.8% economic growth and rising investment as drivers of future employment.
- Who
- Prime Minister Narendra Modi, young Indians, entrepreneurs, employers and more than 51,000 newly selected government employees.
- What
- Modi linked India’s trade agreements, including the United Kingdom–India Free Trade Agreement, to market access and employment opportunities for youth.
- Where
- The event was conducted virtually, with job fairs held across 45 locations in India.
- When
- The virtual event was held on Saturday (19); the United Kingdom–India Free Trade Agreement came into force on July 15.
- Why
- The government says trade, employment incentives, education and skills initiatives can support economic growth and help young people enter changing labor markets.
Key facts
- Trade agreements
- Modi said India has signed 40 Free Trade Agreements.
- United Kingdom–India trade
- The United Kingdom–India Free Trade Agreement came into force on July 15.
- Tariff coverage
- The agreement provides duty-free or reduced-tariff access for 99% of Indian goods entering the United Kingdom and 90% of United Kingdom goods entering India.
- Government appointments
- More than 51,000 appointment letters were issued at the event.
- Employment target
- An employment incentive scheme aims to bring 20 million young people into the formal workforce.
- Job-fair locations
- Job fairs were held across 45 locations.
- Economic figures
- Modi cited 7.8% economic growth and an almost 12% rise in investment during the first quarter.
Quotes
Narendra Modi
Prime Minister of India
“Such trade agreements pave the way for new partnerships for our entrepreneurs, open paths to new markets, and create new possibilities in careers for our youth.”
easterneye.biz
“India is today the world's third-largest startup ecosystem. Nearly half of recognised startups are in Tier 2 and Tier 3 cities.”
easterneye.biz
Sources
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