A consortium of prominent industry figures came together on Monday to initiate the Hundred Million Jobs (HMJ) project, a national effort aimed at generating 10 crore jobs in India over the forthcoming decade.

This collaborative initiative, introduced by Harish Mehta, a co-founder of Nasscom, A.J. Patel, the founder of The Indus Entrepreneurs (TiE), and K. Yatish Rajawat, the founder of The Centre for Innovation in Public Policy (CIPP), emerges as India encounters a distinct scenario of a swiftly advancing economy coupled with a shortage of employment opportunities.

India’s working-age population is continually increasing by 12 million individuals each year. The nation must create between 8 to 9 million jobs annually for the next decade to accommodate new workers and to leverage its demographic advantage.

“Building upon the success driven by skills from Nasscom and the global entrepreneurship framework established by TiE, the Hundred Million Jobs Mission is a comprehensive effort aimed at bolstering job creators, entrepreneurs, MSMEs, and employers—by aligning skills, enterprise, data, and policy to provide resilient and dignified livelihoods for the upcoming generation,” stated Harish Mehta, Co-Founder of Nasscom, in a press release.

“Startups and small businesses contribute 30 percent of India’s GDP and are the primary sources of employment. Our focus lies in enhancing the entrepreneurial engine in India’s smaller towns and districts. If India aspires to generate 8-9 million jobs each year, it is essential to address certain structural challenges to transform entrepreneurship into a widely held aspiration and a viable catalyst for mass employment,” emphasized A.J. Patel, Founder of TiE, the largest entrepreneurial network for Indians globally.

Although India’s economy is one of the fastest expanding worldwide, job creation has not kept up with this growth.

The rise of automation and artificial intelligence is transforming business models and diminishing the number of conventional entry-level positions across various sectors, both in services and manufacturing.

The disconnect between economic growth and job creation is becoming increasingly pronounced. However, this challenge also opens up significant opportunities for entrepreneurs to establish job-heavy industries.

To address this issue, Hundred Million Jobs prioritizes entrepreneurship and reskilling as critical components of India’s employment strategy, along with other necessary foundational elements that require enhancement.

The group’s objective is to ensure that dignified, widespread, and resilient job creation becomes the primary metric for India’s development.

“India’s employment issue is primarily a systems issue. Creating jobs at scale hinges on several factors, including business models and sectors that are labor-intensive, but crucially, it necessitates a shift in mindset from both the business community and the government. The policy challenge lies in making job growth a central focus of economic advancement,” remarked K. Yatish Rajawat, Founder-CEO of The Centre For Innovation Policy.

“The Hundred Million Jobs mission addresses this by reinforcing and promoting a seven-pillar framework designed to facilitate job creation across India in a distributed manner,” he continued.

Hundred Million Jobs operates as a cooperative platform backed by leadership from industry, civil society, and government entities.

Union Electronics and IT Minister Ashwini Vaishnaw announced on Monday that ‘Bharat’ is set to emerge as a significant player in the entire electronics ecosystem, encompassing design, manufacturing, operating systems, applications, materials, and equipment.

In a post on X, the minister mentioned that a significant achievement for Prime Minister Narendra Modi’s ‘Make in India’ initiative and “our aspiration to transform into a producer economy” is that Apple is projected to ship mobile phones worth $50 billion in 2025.

He observed that electronics production has multiplied six times over the past 11 years, and exports of electronics have surged eightfold under PM Modi’s dedicated leadership. This advancement has positioned electronics products among the top three items exported from the country, Vaishnaw stated.

He also mentioned that to enhance the ecosystem, 46 projects focused on component manufacturing as well as manufacturers of laptops, servers, and hearing devices are making electronics manufacturing a crucial component of the manufacturing economy.

“Four semiconductor plants are anticipated to begin commercial production this year,” the minister disclosed, adding that the electronics manufacturing sector now accounts for 2.5 million jobs, with many factories employing above 5,000 workers at a single site. Some facilities are hiring up to 40,000 employees in one location, he noted, claiming, “this is merely the beginning.”

Last week, the industry expressed its approval for the government’s endorsement of 22 new initiatives under the third tranche of the Electronics Components Manufacturing Scheme (ECMS), describing it as a pivotal turning point in India’s quest for extensive manufacturing and the establishment of globally competitive Indian leaders in electronics components.

With this latest development, the total count of ECMS-approved initiatives has reached 46, resulting in cumulative approved investments exceeding Rs 54,500 crore. Previous tranches saw the approval of seven projects valued at Rs 5,532 crore on October 22 and 17 projects totaling Rs 7,172 crore on November 17. The swift expansion across tranches highlights the robust industry response and the increasing confidence in India’s vision for components manufacturing.

As per the IT Ministry, the 22 projects sanctioned in the third tranche are anticipated to generate production valued at Rs 2,58,152 crore and create 33,791 direct employment opportunities.

Technology is serving as the driving force behind the transformation in both space and the economy within the country, stated Dr. Jitendra Singh, Union Minister of State (Independent Charge) for Science & Technology, on Friday.

During a press conference discussing the accomplishments of the Ministry of Science and Technology and the Ministry of Earth Sciences for the year 2025, the Minister remarked that innovation-led sectors such as space, oceans, biotechnology, clean energy, and advanced manufacturing will propel India’s growth in the coming two decades.

“India’s reform journey is being propelled by science, technology, and innovation, with technology functioning as the pivotal force in governance, administration, and economic change,” Singh affirmed.

He noted that every significant reform pursued by the government, across various departments and ministries, is facilitated by technology.

“This transformation has been achievable due to the ongoing emphasis on science, technology, and innovation within national policymaking,” the Minister mentioned.

Singh emphasized key missions like the Deep Ocean Mission and Gaganyaan, stating that “India is simultaneously gearing up for human spaceflight and deep-sea exploration.”

He pointed out that while an Indian astronaut will travel to space, India will also deploy a human-occupied submersible capable of reaching depths of 6,000 metres, representing a landmark dual accomplishment in 2027.

He also brought attention to the Research Development and Innovation (RDI) Fund of Rs 1 lakh crore, under which the government is proactively backing R&D efforts in the private sector; and the Anusandhan National Research Foundation (ANRF), which aims to make research funding more accessible.

Singh discussed various initiatives such as the National Quantum Mission, NIDHI, PRERNA / PURSE, and the VAIBHAV programme, which focus on bolstering startups, enhancing research infrastructure, and fostering international scientific collaboration, while actively engaging with the Indian scientific diaspora.

Describing the contributions of CSIR, the Minister referred to globally significant innovations like durable roads made from steel-slag, indigenous production of paracetamol, the first homegrown antibiotic Nafithromycin, and sustainable food innovations featuring millet-based products, along with the HANSA-NG two-seater trainer aircraft developed through a Public-Private Partnership model.

He characterized these initiatives as instances of “foreign markets acknowledging indigenous innovation.” Public engagement programs like One Day as a Scientist were also mentioned for encouraging a scientific mindset among students.

Regarding Earth Sciences, the Minister asserted that India has achieved considerable progress in weather forecasting through the IMD’s Nowcasting capability, which allows for precise predictions over a three-hour span.

He highlighted the desalination plant in Lakshadweep as an exemplary model for sustainable freshwater production utilizing ocean resources, as well as advancements in ocean energy, marine observation systems, and climate resilience.

In closing, Dr. Jitendra Singh stated that India has transitioned from being an importer to an exporter of advanced technologies, including vaccines and medical devices, with the nation’s bioeconomy emerging as a significant driver of growth.

“The best is yet to come,” he said, adding that science-led reforms will hasten India’s ascent to becoming a leading global economy well before 2047.

Despite the significant reduction in GST rates, experts in the industry expressed optimism about the over 6 percent growth in gross monthly collections reported in December.

India’s GST collection experienced a growth of 6.1 percent, reaching Rs 1,74,550 crore in December 2025, compared to Rs 1,64,556 crore in December of the previous year, highlighting increased economic activity during that month.

Pratik Jain, a partner at Price Waterhouse & Co LLP, stated, “If this trend continues for the upcoming months of this fiscal year, a year-on-year growth of approximately 9 percent remains attainable, which likely aligns with the government’s goals.”

In December, collections from Central GST climbed to Rs 34,289 crore, while state GST collections amounted to Rs 41,368 crore, and integrated GST collections reached Rs 98,894 crore.

Manoj Mishra, Partner and Tax Controversy Management Leader at Grant Thornton Bharat, noted that the GST figures for December reinforce the structural strength of India’s formal economy, sending a positive signal as India cements its status as the world’s fourth-largest economy, overtaking Japan.

He pointed out that the composition of collections is significant, with a 19.7 percent rise in import-related IGST indicating robust supply chains and manufacturing activity, while consistent domestic collections suggest stable consumer spending.

The most notable figure remains the refunds, which amounted to Rs 28,980 crore, reflecting a 30.9 percent year-on-year increase and highlighting the system’s increasing focus on business liquidity, even though export refunds experienced a slight decline of 1.9 percent due to a softening global trade environment.

Maharashtra, Gujarat, Karnataka, and Haryana continue to play a vital role in supporting revenue generation.

The government collected Rs 4,551 crore through the GST compensation cess, which is still being implemented as a temporary measure until the complete loan and interest obligations are resolved. The total collection for the year was Rs 88,385 crore, compared to Rs 1.1 lakh crore in 2024.

Mishra added, “As the Budget for 2026-27 approaches, these trends bolster the argument for a policy focus on enhancing the GST 2.0 reforms, concentrating on the full automation of compliance processes, minimizing unnecessary litigation, and establishing a calibrated credit framework to maintain growth without compromising revenue stability.”