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An Interaction with the Chief Economic Advisor to the Government of India

by Diplomatist Bureau - 10 May, 2024, 12:00 240 Views 0 Comment

In a rapidly evolving economic landscape, discussions surrounding the future of work have become increasingly pertinent. Recognising the need to address these challenges, an interaction titled “Future of Work” was organised jointly by the Research and Information System for Developing Countries (RIS) and Rishihood University at the India Habitat Centre on 9th May 2024. The event brought together key stakeholders, including Professor Sachin Chaturvedi, Director General at RIS, Shobhit Mathur, Vice Chancellor & Co-Founder of Rishihood University, and V. Anantha Nageswaran, Chief Economic Advisor to the Government of India, to deliberate on the implications of technological advancements and evolving economic paradigms on India’s workforce.

Professor Sachin Chaturvedi opened the discussion by highlighting the significant developments witnessed in India’s economic landscape, particularly in the realm of startups. He emphasised the pivotal role played by the emergence of digital India in shaping this revolution, with a focus on labour rights and corporate obligations in the online space. As India navigates these technological advancements, Professor Chaturvedi stressed the importance of re-evaluating existing approaches and fostering collaboration between academia and industry to prepare for the future effectively.

Shobhit Mathur, Vice Chancellor & Co-Founder of Rishihood University, shed light on the challenges faced by educational institutions in preparing students for an uncertain future job market. As a relatively young university, he said, “Rishihood stands at the forefront of shaping its identity amidst constant reform.” Mathur articulated the pressing need to design a curriculum that instills credibility and equips students with the requisite skills to navigate a rapidly changing landscape. He emphasised the importance of engaging stakeholders from various sectors in redefining the core principles of education, particularly in areas such as political analysis and sustainable development.

“The formalization of the economy, particularly in the manufacturing sector, is a positive sign of progress. As India continues to capitalize on its demographic dividend, there is ample opportunity for job creation in various sectors, including manufacturing and services,” said V. Anantha Nageswaran, Chief Economic Advisor to the Government of India. He also provided insights into the economic imperatives for sustained growth in the face of uncertainty. He underscored the necessity of creating conditions conducive to economic growth through structural reforms aimed at improving infrastructure and fostering financial inclusion. Nageswaran stressed on the role of entrepreneurship and formalization of the economy in driving India’s future growth trajectory. However, he acknowledged the need to address challenges such as skill gaps and underemployment to ensure that India’s youth are adequately prepared for the future workforce.

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