India’s Unemployment Rate Drops to 2%, Lowest Among G20 Nations: Mandaviya
India’s unemployment rate has fallen to just 2%, the lowest among all G20 nations, according to the World Economic Forum (WEF). The country’s rapid economic growth across multiple sectors is driving robust job creation, Union Labour and Employment Minister Mansukh Mandaviya announced.
Highlighting government initiatives aimed at boosting employment, Mandaviya credited flagship schemes like the Pradhan Mantri Viksit Bharat Rozgar Yojana (PM-VBRY) for their significant role in generating new jobs and enhancing workforce participation.
Major Employment Growth Through Government Schemes
Mandaviya revealed that under the PM-VBRY, over 3.5 crore new jobs are expected to be generated in the coming years. The scheme, aimed at boosting employment opportunities and skilling initiatives, has already received more than 99.46 lakh applications, signalling strong participation from job seekers.
In addition, the government is expanding job listings and career opportunities through the National Career Service (NCS) portal, and strengthening employment capacity-building initiatives via the Mentor Platform and Digital Masterclass programmes. These platforms are designed to connect youth with employers and offer skill-based training to match industry requirements.
Partnerships with Industry and Global Platforms
The ministry is also signing strategic partnerships with industry associations and major global platforms to facilitate employment generation. These collaborations aim to create tailored job opportunities for students and young professionals, especially in high-demand sectors.
India’s employment drive is further supported by the PM Vishwakarma Yojana, which aims to empower artisans and traditional workers. The government estimates that over 1.92 crore youth have already registered on various employment portals, with more than 44 lakh active job listings currently available.
Boosting Youth Employment and Future Prospects
Mandaviya emphasised that the government’s focus on industrial growth, digitalisation, and entrepreneurship is translating into real-world job opportunities, particularly for the country’s young workforce. These initiatives are not only creating employment but also equipping the workforce with the skills required in emerging sectors such as technology, manufacturing, and services.
Experts say that India’s ability to maintain such a low unemployment rate amid global economic uncertainty underscores the resilience of its labour market and the effectiveness of its employment policies. With continued policy support and industry collaboration, the country is expected to sustain this momentum and remain a global leader in workforce growth.
