India to create jobs in manufacturing sector by tapping into ‘China plus one’ opportunity: Ajay Banga
World Bank President Ajay Banga has said that India has an opportunity to create jobs in the manufacturing sector by tapping into the ‘China plus one’ opportunity, but that window is available only for a short period of time. He said, this opportunity will not stay open for 10 years.
This is a three-to-five-year opportunity when the supply chains start adding on in another location, Mr Banga told reporters in New Delhi.
While sounding upbeat on India, the World Bank chief said that 15-20 million jobs need to be created with some highly skilled ones in manufacturing and technology.
Mr Banga said that if there is a global slowdown, India will have a very high share of its GDP comes from domestic consumption, which is very helpful at a time like this.