President Pranab Mukherjee today cautioned that adequate job creation is not being done for around 10 million persons entering the job market every year and this will impede reaping true benefits of the country's demographic dividend.
There is an urgent need for management education in India to complement training for entrepreneurship, the President said at a special session to commemorate All India Management Association's (AIMA) diamond jubilee year.
"Every year 10 million persons are entering into the job market and not adequate job creation is being done," the President said, adding that "that solution have to depend on start ups, we shall have to start small businesses".
Mukherjee said India has the largest number of youth and working forces and it may have this advantage for some time more. "... but this dividend will not pay as true dividend if we cannot convert the youth forces, working forces into productive employment."
Referring to the need for developing management and entrepreneurial skills in the country, Mukherjee said that the country needs its young people to start more businesses and create more employment opportunities instead of looking for jobs. "For that, we require a huge management cadre."
Mukherjee added that the world was changing fast and technological changes would bring disruptions. "Managing the disruptions is the job of true managers," he noted.
Observing that India was one of the poorest countries of the world for more than a half century (1900-1950), he said today India is one of the fastest growing emerging economies in the world.
"We have made remarkable progress in every area. At the end I must say we have managed well," he said.