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India's services sector showed robust expansion in October, per the <keyword id="22267674" type="General" weightage="20" keywordseo="HSBC-India-Services-PMI" source="keywords">HSBC India Services PMI</keyword> (Purchasing Managers' Index), which rose to 58.5 last month, up from September's ten-month low of 57.7. October's figures managed to exceed even the long-run PMI average of 54.1, largely on the back of a strong sales pipeline and elevated demand. Employment, or job creation in this sector accelerated to its fastest growth rate in 26 months. Anticipating solid, sustained demand in the near term, firms added new employees at the most rapid pace in over 2 years. October also saw <keyword id="23834175" type="General" weightage="20" keywordseo="input-costs-rise" source="keywords">input costs rise</keyword> at their fastest pace in 3 months, indicating renewed demand and economic activity in the country. The ISM Services PMI, an indicator of the economic health of the US, also exceeded expectations, reaching 56.0 compared to the forecasted 53.8, suggesting strong growth within the services sector. "During October, the Indian services sector experienced strong expansions in output and consumer demand, as well as job creation, which achieved a 26-month high," said Pranjul Bhandari, Chief India Economist at HSBC. The sector saw increased business activity across multiple fronts, with export sales showing significant growth and companies reporting stronger demand from international markets including Africa, Asia, the Americas, the Middle East, and the UK. However, industry experts remain cautiously optimistic about the sector's prospects. Suman Chowdhury, Chief Economist at Acuité Ratings &amp; Research, noted that while the October recovery is promising, several factors warrant careful monitoring. “The recovery in the PMI indices in October 2024 is promising for the second half of the fiscal after the dip in several high-frequency indicators in September 2024. Industrial and service activity has expectedly received a boost from the anticipated spike in consumption demand in Q3 FY25, driven by the festivities and the marriage season," she said. Chowdhury added that it will be crucial to monitor the sustainability of these PMI indices at these elevated levels, given the reported weakness in urban demand in Q2 as flagged by FMCG companies. She also noted that potential increases in wholesale and core retail inflation, combined with higher input costs and wage pressures, could delay expected interest rate cuts. RBI governor Shaktikanta Das also noted that inflation and CPI figures for October might be elevated, pushing ahead any chances of interest rate cuts in the near future. Acuité Ratings &amp; Research maintains its GDP growth forecast at 7.0% for FY25 while acknowledging the multiple downside risks that will require close observation in the coming months.

India's Services Index jumps to 58.5 in October as employment grows the fastest in 26 months

Small and medium enterprises (<keyword id="20086849" type="General" weightage="20" keywordseo="SMEs" source="keywords">SMEs</keyword>) are driving a major surge in <keyword id="21881529" type="General" weightage="100" keywordseo="job-applications" source="keywords">job applications</keyword> across key sectors, with more than 35 million job applications recorded in the first eight months of 2024, according to a report by jobs and professional networking platform apna.co. The growth is fueled by rising demand in sectors like BFSI (Banking, Financial Services, and Insurance), BPO (Business Process Outsourcing), and hospitality. The report highlights that the surge in job applications is largely for roles such as Sales &amp; Marketing Managers, Accounting Technicians, Telecallers, Back Office Executives, and Business Development Associates. These positions are critical for the expansion of businesses in these sectors, and the growing demand reflects a strong upward trend in hiring. "SMBs and MSMEs employ more than 110 million people, making them the backbone of our economy. Their success is crucial for our nation's journey towards achieving a USD 5 trillion economy," said Nirmit Parikh, Founder &amp; CEO of apna.co. Parikh emphasised that the demand for skilled workers in these sectors is expected to continue growing, creating vast opportunities for <keyword id="20019820" type="General" weightage="20" keywordseo="job-seekers" source="keywords">job seekers</keyword> across India. <h2>Major growth in Tier-2 and Tier-3 cities</h2>An interesting trend noted in the report is that over 55% of the total job applications for SMB roles came from tier-2 and tier-3 cities, including Jaipur, Indore, Ahmedabad, Lucknow, Kochi, and Bhubaneswar. As businesses expand into these cities, the talent pool is evolving to meet the growing demand, fostering a symbiotic relationship between employers and job seekers. Out of the 35 million job applications received, 14 million came from women, marking a 30% year-on-year increase in female participation. Women are increasingly taking on roles across diverse fields like finance, accounts, marketing, and graphic design, reflecting their rising involvement in the workforce. As SMEs and MSMEs continue to grow, the <keyword id="19972727" type="General" weightage="20" keywordseo="employment-opportunities" source="keywords">employment opportunities</keyword> they generate are set to further contribute to India’s economic goals, fueling progress toward the USD 5 trillion economy target. (With inputs from PTI)

Small businesses generated 35 million job applications till Aug 2024, 14 million were from women: Report

The Ministry of Labour and Employment recently directed the Employees' Provident Fund Organization (<keyword id="19966712" type="General" weightage="100" keywordseo="EPFO" source="keywords">EPFO</keyword>) to ensure the activation of UAN (<keyword id="20789489" type="General" weightage="20" keywordseo="universal-account-number" source="keywords">Universal Account Number</keyword>) via Aadhar-based OTP. The outreach is part of announcements made during the Union Budget 2024-25, which aim to maximize the net of beneficiaries under the Employment Linked Incentive (ELI) Scheme. The central government has already directed concerned ministries and departments to ensure that payment of all subsidies and incentives under all welfare schemes occurs via the Aadhar Payment Bridge and that 100% biometric Aadhar authentication is achieved. Notably, Aadhaar-based verification eliminates the need for producing multiple documents to prove one's identity. In the first stage, all employers must complete <keyword id="24089674" type="General" weightage="20" keywordseo="UAN-activation" source="keywords">UAN activation</keyword> through Aadhar-based OTP for all employees who've joined the company in the current financial year by November 30, 2024. Starting with their latest recruits, employers will have to finish this process for all their employees. As per the budget announcements, the government will implement 3 schemes for 'Employment Linked Incentive' as part of the Prime Minister's package. These will be based on enrollment in the EPFO and focus on recognition of first-time employees and support to employees and employers. The ELI Scheme aims to create over 2 crore jobs in the country in 2 years. This will significantly contribute to increasing employment opportunities and enhancing livelihoods. UAN activation provides employees with seamless access to EPFO's comprehensive online services, enabling them to efficiently manage their Provident Fund (PF) accounts, view and download PF passbooks, submit online claims for withdrawals, advances, or transfers, update personal details, and track claims in real-time. This allows employees 24/7 access to EPFO services from the comfort of their homes, eliminating the need for physical visits to EPFO offices. For the uninitiated, UAN is a 12-digit number allotted to each member of EPFO (Employee Provident Fund Organization). Think of UAN as a single-point number that brings together multiple member IDs that have been allocated to a particular employee. In September this year, EPFO added 18.81 lakh members, registering a 9.33% YoY growth.

EPFO to ensure UAN activation for employees through Aadhaar-based OTP

The Indian cement industry is on track to reach 5.09 billion tonnes by 2028-29, driven by robust government investment in infrastructure. According to an IANS report originally attributed to Infomerics Ratings, this marks a compound annual growth rate (CAGR) of 4.9 per cent between 2024 and 2029. In 2022-23, the industry’s market size stood at 3.82 billion tonnes, with a total installed capacity of 622 million tonnes per annum (MTPA) in FY24 and production at 427 million tonnes. Notably, India contributes over 8 per cent to the world’s total installed cement capacity, highlighting its importance in the global market. Despite this, India’s per capita cement consumption is 260 kg—significantly below the global average of 540 kg—indicating substantial room for growth. Globally, the cement market is projected to grow at a CAGR of 4.3 per cent from 2024 to 2032. The sector’s expansion is fuelled by ambitious government initiatives, including an allocation of ₹11.11 lakh crore for infrastructure in FY25 and housing schemes like Pradhan Mantri Awas Yojana. The construction sector consumes 55 per cent of cement production, while public infrastructure projects account for the remainder. The industry also plays a critical role in employment, providing direct jobs to over one million people and creating downstream opportunities for about 20,000 individuals per million tonnes of cement produced. Private players dominate the sector, controlling 98 per cent of production capacity, while public sector units hold a mere 2 per cent. Domestic production meets almost all demand, with imports accounting for just 0.2 per cent of total production in FY23. However, exports have declined recently due to reduced global demand and rising competition. India currently has 341 cement manufacturing facilities, including 159 integrated large cement plants, 120 grinding units, and 62 mini cement plants. Cement production has seen steady growth, with a 7.1 per cent increase in September 2024 and a cumulative growth of 1.6 per cent between April and September of FY25, according to the Ministry of Commerce and Industry. This growth aligns with India’s overall industrial performance, which saw a 2 per cent rise in core industries in September, led by cement, steel, coal, and fertilisers. As India invests heavily in infrastructure and housing, the cement industry is set to play a pivotal role in supporting the nation’s economic and developmental goals. (with IANS inputs)

India's cement industry expected to grow to 5.09 billion tonnes by 2028-29 amid infrastructure push: Report

Finance Minister <keyword id="19916618" type="General" weightage="20" keywordseo="Nirmala-Sitharaman" source="keywords">Nirmala Sitharaman</keyword> on Tuesday announced <keyword id="20404375" type="General" weightage="20" keywordseo="income-tax-relief" source="keywords">income tax relief</keyword> for the <keyword id="20071167" type="General" weightage="100" keywordseo="middle-class" source="keywords">middle class</keyword>, a Rs 2 lakh crore outlay for <keyword id="22517841" type="General" weightage="20" keywordseo="job-creation-schemes" source="keywords">job creation schemes</keyword> over the next five years and a spending splurge for states run by her party's new coalition partners as she unveiled <keyword id="20509939" type="General" weightage="20" keywordseo="Modi-3-0" source="keywords">Modi 3.0</keyword> government's first budget after the general elections. With rural distress and unemployment being blamed for BJP losing its majority, Sitharaman in her seventh straight budget provided Rs 2.66 lakh crore for <keyword id="20027688" type="General" weightage="20" keywordseo="rural-development" source="keywords">rural development</keyword> and maintained spending on long-term infrastructure projects at Rs 11.11 lakh crore to boost <keyword id="19900794" type="General" weightage="20" keywordseo="economic-growth" source="keywords">economic growth</keyword>. She abolished 'angel tax' for all classes of investors in startups, cut customs duty on mobile phones and gold and simplified capital gains tax. She, however, raised the securities transaction tax (STT) on futures and options of securities, which led to tanking of stock markets. "India's economic growth continues to be the shining exception (in a world that is gripped by policy uncertainties) and will remain so in the years ahead," she said. "In this budget, we particularly focus on <keyword id="19898684" type="General" weightage="20" keywordseo="employment" source="keywords">employment</keyword>, <keyword id="20374219" type="General" weightage="20" keywordseo="skilling" source="keywords">skilling</keyword>, MSMEs, and the middle class." Besides Rs 2 lakh crore provided over a five year period for schemes and initiatives to facilitate employment, skilling and other opportunities for 4.1 crore youth, "I have made a provision of Rs 1.48 lakh crore for education, employment and skilling," she said. For Bihar, where assembly elections are due next year, the finance minister announced spending of Rs 60,000 crore on infrastructure projects like expressways, power plant, heritage corridors and new airports. The support to Bihar, whose ruling party and BJP's partner JD-U has been demanding an economic package and special category status for the state, is in the form of capital projects but not subsidy or cash dole. Similarly, for Andhra Pradesh, whose ruling TDP recently joined BJP-led NDA, she allocated Rs 15,000 crore in financial aid through multilateral agencies. A similar request for support to Bihar will be expedited, she said. For the middle class, she raised standard deduction -- a flat deduction from total salary earned by an employee in a year before calculating applicable income tax rate -- by 50 per cent to Rs 75,000 and tweaked tax slabs for taxpayers opting for the new income tax regime. This will lead to taxpayers under the new tax regime -- which offers lower rates of taxes but permits limited deductions and exemptions -- saving up to Rs 17,500 in tax annually, she said. To spur employment, the Budget provided for incentives for companies, including paying for one-month salary for first-time employees, incentive at specified sale to both employee and empower with respect to their retirement fund contribution in the first four years of employment and reimbursing employers up to Rs 3,000 per month for 2 years towards EPFO contribution of each additional employee. Also, a programme to improve skills as well internship for students and subsidised loans for higher education will be provided, she said. India's official unemployment rate in urban areas is pegged at 6.7 per cent but private agencies put it at much higher levels. Buoyed by robust tax collections and a higher-than-expected dividend receipt from the Reserve Bank, Sitharaman said the government's fiscal deficit -- the difference between the total revenue earned and total expenditure -- will be trimmed to 4.9 per cent of the GDP in 2024-25, below the 5.1 per cent figure estimated in the interim budget she presented in February. She reduced gross market borrowing marginally to Rs 14.01 lakh crore. The Budget for 2024-25 fiscal (April 2024 to March 2025) allocated Rs 1.52 lakh crore for agriculture and allied sectors, aid for building 3 crore affordable housing units in urban and rural areas, provided credit support to small and medium businesses, raised small loans to Rs 20 lakh for small business, proposed setting up 12 industrial parks, and provided for setting up a Rs 1,000 crore venture capital fund for space sector.

Modi 3.0 1st Budget: Tax relief for middle class, Rs 2 lakh cr job scheme

The pre-budget <keyword id="20613906" type="General" weightage="20" keywordseo="Economic-Survey" source="keywords" meta.keywordsubtype="org" meta.entityname="Economic Survey" meta.hostid="261" meta.entityid="Economic Survey">Economic Survey</keyword> on Monday called for urgent reforms in India's <keyword id="19915424" type="General" weightage="20" keywordseo="agricultural-sector" source="keywords">agricultural sector</keyword>, warning that the structural issues could impede the country's overall <keyword id="19900794" type="General" weightage="20" keywordseo="economic-growth" source="keywords">economic growth</keyword> trajectory. The survey, tabled in Parliament by Finance Minister <keyword id="19916618" type="General" weightage="20" keywordseo="nirmala-sitharaman" source="keywords">Nirmala Sitharaman</keyword>, highlighted the untapped potential of the <keyword id="20682012" type="General" weightage="20" keywordseo="Indian-agriculture" source="keywords">Indian agriculture</keyword> sector compared to other economies. Chief Economic Advisor V Anantha Nageswaran called for a pan-India dialogue on the agriculture sector. The survey, presented ahead of the annual budget, emphasised that India has yet to fully leverage its agricultural sector for economic growth and job creation, unlike East Asian economies and Western developed nations. "Indian agriculture is not in a crisis now but requires a serious <keyword id="20544318" type="General" weightage="20" keywordseo="structural-transformation" source="keywords">structural transformation</keyword> because climate change and water criticality loom large in the times to come," the survey stated. The CEA advocated for a reassessment of existing policies, despite current government subsidies and support measures for farmers. "The payoff will be immense if we untie the knots that bedevil farm sector policies," Nageswaran said in the survey's preface. While the government provides substantial support to farmers through subsidies on water, electricity, and fertilizers, along with income tax exemptions and minimum support prices, there is room for improvement in policy implementation, he added. The survey identified several key challenges, including balancing growth with food inflation management, improving price discovery, and addressing land fragmentation. To address these challenges, the survey recommends multi-pronged reforms, which include: upgrading agricultural technology, enhancing marketing avenues, adopting farming innovations, reducing input wastage, and improving the agriculture-industry linkages. The document stressed the need to shift focus from basic <keyword id="19992806" type="General" weightage="20" keywordseo="food-security" source="keywords">food security</keyword> to nutritional security, aligning with a 'demand-driven food system' that is both nutritious and environmentally sustainable. The survey suggested that policymakers must strike a delicate balance between incentivizing farmers to increase production and keeping food prices within acceptable limits. "This dual objective requires careful policy interventions." The survey also emphasized the need for a farmer-friendly policy framework to ensure markets function in farmers' interests. It recommended avoiding bans on futures or options markets at the first sign of price spikes; invoking bans only under exceptional circumstances; re-examining the inflation-targeting framework; increasing the total net irrigated area, and aligning farming practices with <keyword id="22505922" type="General" weightage="20" keywordseo="climate-considerations" source="keywords">climate considerations</keyword>. Looking ahead to 2047, the survey highlighted the potential of agriculture and allied sectors (horticulture, livestock, fisheries, dairy, and food processing) for sustained <keyword id="20268655" type="General" weightage="20" keywordseo="employment-generation" source="keywords">employment generation</keyword>. "To sustain growth for nearly a generation up to 2047 or more and to ensure that it makes people's lives better and fulfills their aspirations, bottom-up reforms are necessary," it noted. It suggested that India may need to reconsider the traditional development model of transitioning from agriculture to industry and services.

Economic Survey calls for urgent agricultural reforms; cites growth hurdles

Emerging technologies are set to revolutionise India’s workforce and can generate an additional 2.73 million tech jobs by 2028, according to ServiceNow’s AI Skills and Jobs Report. This growth comes amid India’s overall workforce expansion, expected to reach 457.62 million by 2028—a 33.9 million increase since 2023. ServiceNow, through partnerships and its ‘RiseUp’ program, aims to bridge the skills gap, positioning India as a competitive force in the global tech arena. Retail, manufacturing, education, and healthcare are projected to experience robust job creation, with retail alone expected to add 6.96 million roles. Professionals in these sectors have opportunities to upskill in areas such as software development and data engineering. Meanwhile, demand for tech roles like Software Application Developers, Systems Software Developers, and Data Engineers is expected to surge, driven by expanding sectors like manufacturing and telecommunications. Generative AI is also reshaping tasks within tech roles, increasing efficiency and automating routine processes. Systems Administrators, AI Systems Engineers, and Implementation Consultants, for example, will gain hours back each week as AI automates tasks. ServiceNow reports a $5 million cost savings and productivity boost from using generative AI across its operations, illustrating the practical impact of AI-led automation. To build a tech-ready talent pipeline, ServiceNow has been proactive, training over 97,000 Indians through its ‘RiseUp with ServiceNow’ initiative in the past year. The company’s University Academic Program, launched with government partnerships and institutions like NASSCOM’s FutureSkills Prime, is ensuring graduates possess job-ready digital skills, strengthening India’s tech ecosystem. With AI as a critical driver, India is expected to see a significant workforce transformation, meeting both domestic and global demand for skilled tech professionals.

AI can create 2.7 million tech jobs by 2028 in India, study says

The Indian <keyword id="21219153" type="General" weightage="20" keywordseo="employment-market" source="keywords">employment market</keyword> is projected to experience a 6.33% incremental expansion over the first half of FY 2024-25, according to a report by TeamLease. The report highlighted that 56% of employers expect their workforce to grow, 21% anticipate a decline, and 23% believe their workforce size will remain unchanged. The report provided a detailed analysis of the <keyword id="21680463" type="General" weightage="100" keywordseo="Indian-job-market" source="keywords">Indian job market</keyword> across 23 industries and 20 cities. It highlighted workforce expansion trends, emphasizing the impact of <keyword id="20509550" type="General" weightage="20" keywordseo="economic-conditions" source="keywords">economic conditions</keyword>, organizational dynamics, skill shortages, and <keyword id="20358462" type="General" weightage="20" keywordseo="technological-advancements" source="keywords">technological advancements</keyword> on hiring strategies. The growth in the employment market is attributed to the favourable economic conditions in the country, including a nearly 7% GDP growth forecast for 2024 by most global rating agencies, which would make India the fastest-growing G-20 nation. Strong investment demand, peaking headline inflation, and a greater emphasis on technology and skills by employers are also key factors. In terms of cities, Delhi, Bangalore, and Hyderabad emerged as the top cities with the highest proportion of employers expanding their workforce sizes. These cities attract businesses due to their established infrastructure, large talent pools, and economic vitality. The consistent preference for these major cities underscores their significance as job concentration hubs, despite the growing trend of expansion into new locations. These urban centres play a strategic role in driving employment growth and economic development in India. The report also noted that nearly two out of five organizations are focusing on bridging skill gaps, highlighting a shift towards a more adaptable and skilled workforce in preparation for technological advancements and new skills. The report said that Generative AI (<keyword id="19949719" type="General" weightage="20" keywordseo="GenAI" source="keywords">GenAI</keyword>) is particularly noteworthy, as it has the potential to transform key business processes, impacting workforce dynamics and reshaping talent management. In response, 35% of surveyed organizations reported significant changes in their talent acquisition strategies to integrate advanced AI technologies. On the unemployment front, the report stated out that a significant portion of the unemployed workforce, nearly 83%, consists of youth aged 15-29. Over the past two decades, there has been a significant increase in the educational attainment of these unemployed youths. The proportion of those with at least secondary education rose from 35.2% in 2000 to 65.7% in 2022, indicating a rising educational profile among the unemployed. However, the national <keyword id="20054242" type="General" weightage="20" keywordseo="unemployment-rate" source="keywords">unemployment rate</keyword> has progressively decreased, falling to 3.1% in 2023 from 3.6% in 2022 and 4.2%in 2021. The unemployment rate in urban areas also decreased from 7.2% to 6.5% for persons aged 15 years and above between October-December 2022 and October-December 2023. The <keyword id="19913761" type="General" weightage="20" keywordseo="gig-economy" source="keywords">gig economy</keyword> in India is experiencing rapid growth, with the number of gig workers projected to rise from 7.7 million in 2020 to 23.5 million by 2029-30, demonstrating a compound annual growth rate (CAGR) of almost 12%. The distribution of gig work across skill levels includes 47% in medium-skilled jobs, 22% in high-skilled jobs, and 31% in low-skilled jobs, highlighting the diverse opportunities within this sector. In the media &amp; entertainment industry, digital transformation and changing consumer preferences are driving 48% of employers towards <keyword id="22204807" type="General" weightage="20" keywordseo="workforce-growth" source="keywords">workforce growth</keyword> in the first half of FY 2024-25. However, the other half of the industry faces turbulence and uncertainty.

Maximum employers expect their workforce to grow in first half FY 2024-25, says Teamlease report

<ul><li>34.7 crore <keyword id="20290357" type="General" weightage="20" keywordseo="ayushmann-bharat" source="keywords">Ayushmann Bharat</keyword> cards generated </li><li>Avg growth of the manufacturing sector at 5% over last decade</li><li>Reduction in dependence on non-institutional credit </li></ul> The <keyword id="6354872" type="General" weightage="100" keywordseo="economic-survey" source="Orion">Economic Survey</keyword> 2023-24 noted that the country's energy requirements are set to burgeon by 2-2.5x by 2027, underlining the need for energy efficiency and seamlessly transitioning to clean energy solutions. By means of sovereign green bonds, the government managed to raise Rs 16,000 crore between January-February 2023, alongside an additional Rs 20,000 crore between October and December 2023. As for social security, Ayushmann Bharat, of which over 34.7 crore cards have been generated, has saved over Rs 1.25 lakh crore of OPD expenses of the poor and under-privileged families. The country's labor market has also seen solid improvement, with unemployment rates declining to 3.2% in 2022-23. The net payroll additions under Employee Provident Fund Organization has also doubled over the past 5 years, signaling a healthy growth in formal employment. As per the survey, care economy and agro-processing are the two key areas where there is untapped potential for boosting quality employment, and increasing women participation in the labor force. The agriculture sector has registered an average annual growth of 4.18% over the last 5 years, with the sector growing about 1.4% during 2023-24, as per provisional estimates. To provide further fillip to the sector, the government has been focused on reducing the sector's dependence on non-institutional, informal credit. As a result, its share has come down from 90% in 1950, to just 23.4% in 2021-22. However, as the survey observed, the country's agricultural growth policies should be consistent with climate change and water security practises. <h2>Thrust on MSMEs, manufacturing and clean energy</h2>Over the last decade, the manufacturing sector managed to mark an average annual growth rate of 5.2%, majorly driven by chemicals, wood products and furniture, transport equipment, pharmaceuticals, machinery, and equipment. <keyword id="19895063" type="General" weightage="20" keywordseo="india" source="keywords">India</keyword> also emerged as a net exporter of finished steel over the last 10 years, and was a significant producer and consumer of the same during FY24. India's indigenous coal production also jumped up, with India actively working to reduce its import dependence. In FY 24, India producued 997.2 million tonnes of coal, imported 261 million tonnes, and consumed 1233.86 million tonnes. India's pharma market, valued at $50 billion, is the 3rd largest in the world, and India ranks prominently amongst clothing manufacturing nations as well. As of FY24, it is the second largest manufacturer, and one of the top 5 exporting nations of clothing, with the export of textiles and apparel, including handicrafts increasing by 1% to reach Rs 2.97 lakh crore. A similar growth was witnessed in India's electronics manufacturing segment, making up for 3.7% of global market share, with exports rising to Rs 1.9 lakh Crore in FY23. Per the survey, "the PLI schemes for key sectors have attracted significant investments, boosted production, sales and exports and generated jobs, particularly in the case of white goods. Keeping in view India’s vision of becoming ‘Aatmanirbhar’, over Rs 1.28 Lakh Crore of investment was reported until May 2024, which has led to production/sales of Rs 10.8 Lakh Crore and employment generation (direct &amp; indirect) of over Rs 8.5 Lakh under PLI scheme". Focus has also been on boosting research, development, innovation and entrepreneurship in the country. The number of granted patents increased seventeen-fold from 5,978 in 2014-15 to 1,03,057 in 2023-24. More than 45% of the recognised start-ups are emerging from Tier 2/3 cities. The country's services sector contributed to about 55% of the total size of the economy in FY24. The clean energy sector in the country also saw new investment of Rs 8.5 lakh crore between 2014 and 2023. India is prominently making a mark in space, with 55 active space assets, out of which 18 are communication satellites, nine navigation satellites, five scientific satellites, three Meteorological Satellites, and 20 are Earth Observation satellites.

Economic Survey shows India's energy needs to grow 2.5x, healthy growth in formal employment

<ul class="summary-list"><li>The idiom goes, "If at first you don't succeed, try, try again."</li><li>But when it comes to <a target="_blank" class="" href="https://www.businessinsider.com/job-seeker-applied-more-than-2000-roles-2024-9">applying for jobs</a> at any one employer, how many tries are too many?</li></ul>You may have seen some version of this job success story plastered on <a target="_blank" class="" href="https://www.businessinsider.com/linkedin-open-to-work-banner-desperate-graphic-designer-courtney-myers-2024-9">LinkedIn</a> before: Someone landed a job on their umpteenth try with the particular company, unfazed by many prior rejections there.The rules of applying for a job somewhere are a little different during the second — third, or sixth — time around if the employer has previously rejected or not offered to interview (or, God forbid, <a target="_blank" href="https://www.businessinsider.com/why-companies-recruiters-ghost-job-applicants-candidates-2024-2">ghosted</a>) you.We asked career and recruiting experts for their advice on reapplying to a company. Here's what they said:<h2 id="cf6ee9af-7af2-4f21-ada0-e3b2a52f3556">Consider how much is too much</h2>In the success stories, a candidate's repeated applications someplace always reflect a <a target="_blank" class="" href="https://www.businessinsider.com/impress-boss-prioritize-impactful-work-2018-11">dedication to the organization's mission</a>. But they can also come across in a less desirable way depending on how or what you are applying for."When a recruiter or hiring manager sees you have applied to multiple roles for one company, especially roles that are all very different, it can raise concerns that you may lack a clear focus or are just looking for any job," says <a target="_blank" class="" href="https://www.indeed.com/">Indeed</a> career trends expert Gabby Davis. "Employers may wonder about your commitment or suitability for specific roles."Davis notes it's "generally not recommended to apply to the same employer more than twice for the same position if you've been rejected or received no response, especially if your qualifications have not changed."<h2 id="02539de7-d6e0-4054-b138-3dc5acccb496">Focus on new skills and experience</h2>You should consider reapplying somewhere, however, "if you've significantly improved your skills, expanded your portfolio, or built sufficient relationships within the company," says Cynthia Pong, an executive coach, speaker, and founder of career coaching and training firm <a target="_blank" class="" href="https://www.embracechange.nyc/">Embrace Change</a>.Some employers have guidelines around how soon you can reapply after being rejected, notes <a target="_blank" class="" href="https://www.farahsharghi.com/">Farah Sharghi</a>, a career coach and strategist and former tech recruiter. Sharghi advises waiting at least 3 to 6 months after being rejected to reapply unless the company explicitly invites you to apply for other roles.When you do reapply, make sure to <a target="_blank" class="" href="https://www.businessinsider.com/how-to-tailor-your-resume-for-job-applications-2021-10">tweak your application materials</a> from what you submitted before so they reflect how you've learned and grown."Be sure to emphasize new skills, experiences, or achievements since your last application," says Pong.<h2 id="952cbfe1-4774-401f-aa92-e376b746087c">Emphasize your interest in the employer</h2>If you're offered an interview, "be honest and frame it positively," says Sharghi.One script Sharghi suggests: "Yes, I've applied to a few positions here because I'm genuinely excited about the company's mission and culture. Each role I've applied for aligns with my skills and career goals in different ways. For this specific position, I'm particularly interested because [mention specific aspects of the job that appeal to you]."Besides focusing on what new skills you bring to the table now, and honing in on your interest in the company, much of the rest of <a target="_blank" class="" href="https://www.businessinsider.com/job-seekers-careers-interviews-assessments-hiring-2024-6">the application process</a> is what you're used to, whether it's your first time applying to the company or not.As always, Pong says, "The goal here is to showcase your adaptability, growth, and sincere interest in contributing to the organization."

How to apply for a job with an employer that has rejected you in the past

<ul class="summary-list"><li>US real GDP grew at an annualized rate of 2.8% in the third quarter of this year, less than the forecast.</li><li>This means the economy is still growing healthily — even if it was weaker than expected.</li></ul>In the third quarter, US economic growth fell short of expectations but remained strong.A news release from the Bureau of Economic Analysis said real gross domestic product rose at an annualized rate of 2.8% in the third quarter of the year, less than the <a target="_blank" class="" href="https://www.investing.com/economic-calendar/gdp-375">forecast</a> of 3%."The increase in real GDP primarily reflected increases in consumer spending, exports, and federal government spending," the news release said. Consumer spending was a particular highlight, with personal consumption expenditures growing at a strong 3.7% annualized rate.Real GDP rose at an annualized rate of 1.6% in the first quarter and 3% in the second quarter.The weaker-than-expected GDP growth doesn't necessarily mean the US is heading toward a recession. There's still a lot of strength in the economy. Layoffs remain low and inflation-adjusted wage and income growth are back to their strong pre-pandemic trends.The presidential election is less than a week away, and <a target="_blank" class="" href="https://www.businessinsider.com/what-is-going-on-with-economy-jobs-inflation-election-voting-2024-10">the economy is top of mind for voters</a>. Additionally, the Federal Reserve will announce its next interest-rate decision on November 7. The Fed has several recent data releases, in addition to the upcoming jobs report on Friday, to help it determine whether or how much it will cut rates. Before the GDP report, <a target="_blank" class="" href="https://www.cmegroup.com/markets/interest-rates/cme-fedwatch-tool.html">traders</a> expected the central bank would cut rates by 25 basis points in November. That was still the case after the report, with a probability of around 96%.The US economy has generally been strong since recovering from the 2020 Covid recession, and the new GDP reading adds to this. David Kelly, chief global strategist at J.P. Morgan Asset Management, said in a note that "in an economy that has averaged 2.1% growth since the start of this century," adding that anything between 2.5% and 4% "shows a continuation of above-trend real growth."Wednesday's reading is the advance estimate based on early data collected by the Commerce Department, so it could change as more information rolls in. Hurricane Helene in September and Hurricane Milton in October affecting businesses could impact GDP in the third or fourth quarter; it may mean larger revisions upward or downward.Mark Hamrick, a senior economic analyst at Bankrate, told Business Insider earlier this month that because economic data will likely be "foggy" because of issues like strikes and recent hurricanes, "we may have to employ a little bit of patience to get through the end of the year and hope for better visibility about economic data."This is a developing story. Please check back for updates.

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