India’s First Digital Employment Exchange: Benefits

India’s First Digital Employment Exchange: Benefits

Question: MSME sector has launched the Digital Employment Exchange for Industries recently. Discuss its benefits.

About the Digital Employment Exchange

• MSME Union Minister has digitally launched the Employment Exchange for industries

• This is in line with the PM’s vision of Digital India whereby job seekers can fund employers and vice versa online

• Make in India, Skilled India and Clean India will receive impetus through the establishment of a digital employment exchange

• Skilled workforce for industries and suppliers that are MSME units is targeted through this exchange

• Large units rely on MSMEs as they need high quality output which is missing if the MSMEs lack skilled manpower

• Skilled persons will be helped to find appropriate jobs and the correct employers

• Facility will enable the industrial units to locate suitable manpower and job seekers to find adequate jobs

Facts and Stats

• MSME sector provides employment to a majority of the Indian population

• It contributes to 45% of the total exports of the country and 40% in the manufacturing sector

• Early GDP growth rate of less than 5% has shot up to 7.4% in 1 year