Employment rises as more businesses come up
New Delhi: More and more people in India have jobs due to a number of new businesses having come up in India over the last seven years. The number of new businesses coming up has exceeded the Central Statistical Organisation's projections, leading to a higher intake of people into the workforce.

The provisional results of the Fifth Economic Census 2005 showed 42.12 million enterprises existed at the end of last year, with the number of people employed by these at 98.96 million. The number of enterprises was around 5 per cent more than the number extrapolated at the end of the last economic census in 1998, a CSO official said. Though the organization has not extrapolated the employment figure, logically speaking the actual number of people employed at the end of 2005 should also be higher than expected the official said.

The data revealed that the growth in establishment of new enterprises in rural areas was higher than the same in urban areas. Rural areas had 25.8 million enterprises at the end of 2005, up 5.53 per cent over the number in the previous census in 1998. The absolute number of people employed in enterprises in rural areas was 50.1 million, higher than the 48.7 million employed in urban enterprises.

State-wise data on enterprises showed more 50 per cent of the enterprises were concentrated in Tamil Nadu, Maharashtra, West Bengal, Andhra Pradesh and Uttar Pradesh. The average employment level per enterprise was 2.35 at the national level.
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Industrial growth up 9.5 per cent in April
New Delhi: The overall Index for Industrial Production (IIP) registered a growth of 9.5 per cent in April 2006 as against 8.1 per cent growth recorded in April 2005, according to the official data released here today by the Central Statistical Organisation (CSO). This was on the back of a more than 10 per cent growth in the manufacturing sector and 24 per cent growth in production of capital goods. The increase in the IIP in the first month of the current fiscal is substantial compared to the revised rate of growth of 8.2 per cent recorded in the preceding month. The manufacturing sector grew by 10.4 per cent in April compared to 9.2 per cent in the same month last fiscal, the release said. Manufacturing, including automobiles, steel and others, has the greatest weightage in the index at 80 per cent.

The growth in the mining sector, which also includes coal and crude oil production, grew by 4.3 per cent (2.8 per cent). Electricity output also grew by 5.6 per cent as against 3.1 per cent in April 2005. Simultaneously, consumer durables output was up 10.6 per cent from the earlier year while production of capital goods, a key barometer of industrial activity, improved by 24.9 per cent.

According to the Associated Chambers of Commerce and Industry of India, the manufacturing sector is poised to create 25 million jobs by 2010. The textiles sector alone will provide employment opportunities to 9-10 million people by that time and is also projected to substantially enhance its contribution to the GDP, according to the chamber.
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Japanese firms bullish on India
Kolkata: According to the India Brand Equity Foundation (IBEF) special report titled "Proven Strategies: Japanese Companies in India", 71 per cent of surveyed Japanese companies in India are planning to increase their investment including majors like Suzuki, Honda, and Toyota.

The report released just before the World Economic Forum's East Asia Summit 2006 in Tokyo on June 15 and 16 revealed that a majority of the Japanese companies were planning to expand their production capacity, increase their product portfolio, target new consumer segments and increase marketshare in India.

The study surveyed 25 successful Japanese organisations in India and highlighted best practices adopted by Japanese companies to succeed in the Indian market. The report also includes profiles of 17 Japanese companies with businesses in India in diverse sectors.
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Truckers to observe one-day strike tomorrow
New Delhi: Truckers across the country will observe a token one-day strike tomorrow to oppose the recent hike in petrol and diesel prices. The strike has been called by the All India motor transport congress (AIMTC), and will begin from 0600 hrs on Tuesday, June 13. "As many as 3,700 affiliate members across India, including 22 associations from Delhi, will support the strike call," said J M Saxena, advisor to AIMTC.

The closure of booking offices and keeping vehicles off the road is expected to result in losses amounting to Rs15,000 crore.

Meanwhile, truckers have already increased freight rates by 6 per cent after the latest hike in fuel prices though Saxena said the hike in rates is not commensurate with the hike in fuel prices. He said the association will decide on the future course of action, which includes total stoppage of work later this month.
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