‘Employment generation is the world’s biggest issue’- FM in America

New Delhi| Finance Minister Nirmala Sitharaman, during her visit to America, described employment generation as the biggest issue in the world. She called on the World Bank to cooperate with countries towards identifying skill areas of high priority that created jobs.

Sitharaman spoke in a discussion on how the World Bank should set its future strategic direction and help customers create more jobs to keep pace with emerging megatrends. Finance Ministry wrote on its official account on social media platform ‘X’, ‘‘ Sitharaman stressed that jobs have become the biggest global problem given the continuous economic challenges and rapid technological changes that are taking place for the youth to enter the job market. Are redefining the skills required to enter.’’

The World Bank has previously conducted several studies on regional trends and their potential impact on employment, she said. In these, studies were conducted on topics like ‘green jobs, jobs after the introduction of artificial intelligence and areas like changes due to changing demography etc.

However, she stressed that the need of the hour is to conduct a more comprehensive, multi-sectoral analysis. It should look at how emerging trends interact and how they affect both job loss and job creation. In her address, the Finance Minister urged the World Bank to cooperate with countries in identifying high priority skill areas based on data, analysis and knowledge work, with a focus on employment generation, skill matching and labor retention. Let’s do.

Sitharaman, who is currently in the US capital to attend the annual meetings of the International Monetary Fund and the World Bank, also held a bilateral meeting with British Chancellor of Exchequer Rachel Reeves. The two leaders discussed bilateral issues. Sitharaman said that India is eagerly waiting for the next economic and financial talks to be held in London in the first half of next year. She wished Rachel Reeves all the best for her first budget which is going to be presented next week after the election.