PM Modi urges stakeholders to invest in people, innovation to create jobs

Prime Minister Narendra Modi on Wednesday urged all stakeholders to come together and invest in people for skill development nurturing talent and promoting innovation which are essential for job creation and boosting the economy reported news agency PTIParticipating in a postBudget webinar on employment PM Modi said the government has provided skill training to 3 crore youth since 2014 and decided to upgrade 1000 ITIs and set up five centres of excellence reported PTIHe stated that capacity building and talent nurturing act as a foundation stone for national development and in the next phase of growth greater investment in these sectors is essentialThe vision of investment in people stands on three pillars education healthcare and skill development he said adding that today Indias education system is undergoing a transformation reported PTIAll stakeholders must come forward as they are key to the success of the Indian economy he saidThe prime minister said India is the fastestgrowing major economy in the world and the nations GDP will soon reach USD 5 trillion level up from USD 38 trillion currentlyAs per the IMF report Indias economy has grown by 66 per cent within a decade 20152025 India is currently a USD 38 trillion economy and is set to become a USD 5 trillion economy soon he added reported PTIHe said the government has launched the PM Internship Scheme to provide new opportunities and practical skills to youthWe must ensure that businesses at every scale actively participate in this scheme In this years budget we announced 10000 additional medical seats with a target of adding 75000 seats in the medical field over the next 5 years he said reported PTIPM Modi also talked about the governments decision to give infrastructure status to the tourism sector saying that it will generate jobs for youthHe urged industry to invest in the health sector and also talked about the potential of medical tourism to create jobsTo cater to a larger population planned urbanisation is essential We have decided to allocate Rs 1 lakh crore to the Urban Challenge Fund The private sector especially the real estate industry must focus on planned urbanisation he said reported PTIThe government has given importance to skill development at par with the infrastructure sector he addedAI he said could contribute lakhs of crores to the economy In this direction we have allocated Rs 500 crore for AIdriven education and research in the budgetHe also stated that India will set up National Large Language Model for the development of AI capacityWith inputs from PTI