Jobs are the Most Pressing Global Issue During US Visit, FM Sitharaman

Union finance minister Nirmala Sitharaman has repeatedly brought to attention the realization that in such a developing world where the most important issue remains jobs, the continued economic headwinds and especially rapid technological changes that are redefining skills needed for youth to enter the job market will make things only tougher and more uncertain.

Speaking to the plenary lunch of the International Monetary Fund and the World Bank annual meetings in Washington, DC, she said that the World Bank had undertaken several studies on sectoral trends and their probable impacts on employment over time-things like 'green jobs,' jobs after AI, and changes in employment due to demographic shifts.

However, FM Sitharaman added that there was an immediate need for a much deeper multi-sector analysis that looks at how and when new trends align or countervail the loss as well as the gain of jobs.

"This needs to be done along with considerations on geopolitical fragmentation and its implications on food production, exports, and related employment," FM Sitharaman added. In response, though being critical of the traditional manufacturing-led development pathway, he underlined that there is a need to explore alternative growth strategies and the type of jobs they will generate.

Union Finance Minister urged the @WorldBank to collaborate with countries in identifying high-priority skilling sectors based on data, analysis and knowledge work, with a focus on generating employment, skill matching and labour retention, the Ministry of Finance posted on the X social media platform.

And also, FM Sitharaman emphasized that this "requires an output-based road map accompanied by a clear implementation strategy for proper implementation of these plans". The minister said, "Finance Minister said that India looks forward to the next Economic and Financial Dialogue during the first half of next year in London." FM Sitharaman met UK Chancellor Rachel Reeves on the sidelines of annual meetings in Washington DC and discussed bilateral issues, the ministry further added.