Estimating the number of jobs that $24 billion can create in India involves considering various factors such as the sector of investment, the nature of jobs, the cost of living, and the specific economic context. Different sectors have different capital intensities, meaning some sectors create more jobs per dollar invested than others.

Key Factors:

1. Sector of Investment:

• Manufacturing: Typically, investments in manufacturing are more capital-intensive but can create a significant number of jobs. Estimates suggest that $1 million invested in manufacturing can create between 5 to 10 jobs, depending on the specific industry and local conditions.

• Services: Investments in the service sector, particularly in IT and business process outsourcing, can create more jobs per dollar invested compared to manufacturing due to lower capital costs.

• Infrastructure: Infrastructure projects also tend to be labor-intensive and can create a substantial number of jobs, though these are often temporary construction jobs.

2. Average Cost per Job:

• According to various reports, the average cost to create a job in different sectors in India can range from $10,000 to $50,000.

3. Multiplier Effect:

• Investments can also have a multiplier effect, creating indirect jobs in the supply chain and through increased spending by newly employed workers.

Example Calculation:

Let's assume a mix of sectors with an average cost of $20,000 per job.

• $24 billion / $20,000 per job = 1.2 million jobs

References:

• Manufacturing Sector: Reports indicate that $1 million invested in manufacturing can create 5-10 jobs.

• Service Sector: IT and service sectors often have lower capital requirements and higher job creation rates.

• Infrastructure: Infrastructure projects create a mix of temporary and permanent jobs.

Sources:

• World Bank

• NITI Aayog

• [Economic Times](https://economictimes.