NEW DELHI: India would continue to see high unemployment rates post-covid if the economy doesn’t revive soon, industrialists at a CII session warned.
If more people fall below the poverty line, it could lead to a demographic nightmare. Speaking at the session on ‘Getting growth back’, Ajay Piramal, chairman of Piramal Group said, “There will be new ways of doing business and probably 20-30% of these people will not be employed," he said. “How do we ensure that those sectors that they work in, whether it is construction or at home — are revived?" he asked.
While companies can survive the crisis, many people may not, he warned. “If we don’t address growth, there will be social issues — if people do not have food.