NEW DELHI: Asserting that boosting economic growth while making it socially inclusive was a major challenge for policy makers, President Pranab Mukherjee has said Indian economy needed to generate 115 million non-farm jobs over the next decade to reap the 'demographic dividend'.
He said launch of the Start Up India programme by the government indicates country's commitment towards harnessing the brilliance and creativity of its young minds for the larger benefit of society and the nation.
Addressing a conference during 'Global Roundtable on Inclusive Innovations' held at Rashtrapati Bhavan yesterday, he said the country needs a model that draws in 350-400 million people who currently reside outside mainstream society.
"The Indian economy today needs to generate 115 million non-farm jobs over the next decade to gainfully employ its workforce and reap its demographic dividend," he said.
"Given this context, encouraging and promoting self-employment as a career option for young people will be of paramount importance," the President was quoted as having said in a press release issued today.
A culture of innovation and entrepreneurship needs to be institutionalised as part of our socio-economic eco-system.
Innovation and entrepreneurship need to be inclusive and focus on a variety of enterprises, such as young technology firms, upcoming manufacturing businesses and rural innovator companies, he said.
Mr Mukherjee said policy makers in India are confronted with the challenge of boosting economic growth while at the same time making it socially inclusive.