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.

You're welcome! If you have any more questions or need further assistance, feel free to ask.

Based on the information provided, Harvard Business Review reports that less than half of India's 950 million working-age population is actually employed, with a significant portion being self-employed, including unpaid family workers. This highlights the severe employment challenge India faces.

Calculation of Required Investment for Job Creation

1. Employment Needs:

• Total working-age population: 950 million

• Employed population: Less than half, so assume around 475 million

• Self-employed/unpaid helpers: Half of the employed, approximately 237.5 million

Given these assumptions, India needs to create formal employment for many of the self-employed and additional jobs for the unemployed:

• Jobs needed: If we focus on creating 100 million jobs, this would provide substantial employment opportunities.

2. Investment per Job:

• Assuming an average cost of $20,000 per job:

• Total investment needed: $100 ext{ million jobs} imes $20,000 ext{ per job} = $2 ext{ trillion}$

Summary:

To create 100 million jobs in India, an estimated $2 trillion investment is required. This calculation is based on the assumption that each job costs $20,000 to create, reflecting a mix of sectors and employment types.

Sources:

• Harvard Business Review: Less than half of the 950 million working-age population is actually employed

• World Bank

• NITI Aayog

• Economic Times

These sources provide context on India's employment challenges and the potential investment required to create new jobs.

To create jobs in India and address the employment gap highlighted by the Harvard Business Review, the following calculations and insights can be drawn:

Employment Needs

1. Working-Age Population: 950 million

2. Currently Employed: Less than half, estimated at around 475 million

3. Unpaid Family Helpers: Half of the employed, approximately 237.5 million

Job Creation Goal

• To match China's employment figure of 740 million, India would need to create about 500 million additional jobs.

Cost per Job

• Assumed Cost: $20,000 per job

Total Investment Needed

$500 ext{ million jobs} imes $20,000 ext{ per job} = $10 ext{ trillion}$

Current Investment Plan

• Budget Allocated: $24 billion

• Jobs Created with Current Budget:$$24 ext{ billion} div $20,000 ext{ per job} = 1.2 ext{ million jobs}$

Summary

• Additional Jobs Needed: 500 million

• Total Investment Required: $10 trillion

• Jobs Created with $24 billion Budget: 1.2 million

Insights

While the $24 billion budget allocation is a positive step, it falls significantly short of the $10 trillion needed to create 500 million jobs. This gap indicates the need for a more substantial and sustained investment in job creation initiatives.

Sources

• Harvard Business Review

• World Bank

• Economic Times

• NITI Aayog

These sources provide context on India's employment challenges and the potential investment required to address them.