Washington: Finance Minister Nirmala Sitharaman has identified job creation as the world's most critical issue amid economic challenges and technological advancements that are transforming required job skills. Speaking at the plenary lunch on "How Should the World Bank Shape Its Future Strategic Direction and Help Clients Create More Jobs to Keep Pace with Evolving Megatrends," Sitharaman urged the World Bank to partner with nations to pinpoint key sectors for skill development that would boost employment.
Sitharaman Calls for Broader Analysis on Global Trends Impacting Jobs and Employment Sectors:
The finance minister highlighted the World Bank's previous research on employment trends in sectors like green jobs and the impact of artificial intelligence. However, she emphasised the need for a broader analysis that includes the influence of emerging global trends on both job creation and job loss. This comprehensive approach should also account for factors like geopolitical fragmentation, which affects areas such as food production, exports, and related employment, Sitharaman said.
ALSO READ: Govt extends ITR filing deadline for corporates by 15 days till Nov 15
She advocated for exploring alternative growth models beyond traditional manufacturing-led pathways to adapt to the shifting job market. She also called on the World Bank to use data-driven insights to help countries identify priority sectors for skill development, labor retention, and employment growth, stressing the need for a clear action plan with measurable outcomes.
Sitharaman, currently in Washington for the annual meetings of the International Monetary Fund and World Bank, also held a bilateral discussion with Rachel Reeves, the UK's Chancellor of the Exchequer. The two leaders discussed bilateral matters, and Sitharaman expressed India's anticipation for the upcoming Economic and Financial Dialogue in London next year. She extended her best wishes to Reeves for her upcoming Budget presentation.
Source-PTI
FIRST Business Portal addressing the potential of business capability of North East Region.
