Informal employment at least twice as much as formal employment
New Delhi : Minister For Railways and Communications Ashwani Vaishnaw on Thursday said that India is ready for One Trillion exports very soon and foundation behind it is manufacturing .
In a statement issued on Thursday Ashwani Vaishnaw said as a result of increasing focus on exports the formal employment which earlier used to be around 6 lakh per month (around 70 lakh per year), has come down to 14-15 lakh per month on average (around 1 crore 80 lakh per year).
Stating If we had talked about the strategy adopted today 10-12-15 years ago, the Minister said maximum export would have been of petroleum, later the name would have come of rice and this way four or five would have been covered
The Minister also said that mobile phone export last year was 11 billion dollars (about Rs.90,000 crore) but this year the manufacturing of mobile phones is going to be around 50 billion dollars (about Rs.4,00,000 crore) and exports are likely to exceed 15 billion dollars (Rs.1,25,000 crore).
The Minister also said that the exports of toys have reached Rs.4,000 crore and sharing export data of 2022-23 he said exports is 97 billion dollars in petroleum sector, 19 billion dollars in Phamaceuticals,12 billion dollars in Telecom equipment,11 billion dollars in Electronic Equipments, 8 billion dollars in Almunium sector, 8.7 billion dollars in Motor Vehicles, 4 billion dollars in Electronic components and 13 billion dollars in Iron & Steel.
He said that TDK a Japaneses manufacturing company has declared that it will manufacture mobile phone batteries in India, adding therein that casing used for mobile phones is being manufactured today by Tata and the manufacturing is very precise.