India to generate 8 million jobs per year for next 10-12 yrs: Chief Economic Advisor Nageswaran

India has to generate 8 million jobs per year at least for the next 10–12 years and raise the share of manufacturing in GDP as it strives to achieve the vision of becoming a developed country by 2047, Chief Economic Advisor to the Government of India V Anantha Nageswaran said.

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NEW YORK: India has to generate 8 million jobs per year at least for the next 10-12 years and raise the share of manufacturing in GDP as it strives to achieve the vision of becoming a developed country by 2047, Chief Economic Advisor to the Government of India V Anantha Nageswaran said.

"We have a vision to achieve a developed India by 2047. The biggest challenge, apart from India's size, is that the external environment is not going to be so benign for the next 10-20 years as one might have had in the last 30 years, starting from 1990 or so," Nageswaran said here Saturday.