A decade of empowerment — from reform to rozgar

As India moves towards the centenary of Independence, it is sending a clear message to the world: Its greatest strength is its young population.

4 min readJun 19, 2026 06:20 AM IST

First published on: Jun 19, 2026 at 06:20 AM IST

Over the past 12 years, under the leadership of Prime Minister Narendra Modi, India has undergone a remarkable transformation driven by empowerment, good governance, and inclusive development. From being counted among the Fragile Five economies in 2013, it has emerged as the fastest-growing major economy, built one of the largest start-up ecosystems, become a leader in digital public infrastructure, and strengthened its standing on the global stage.

At the heart of this transformation is India’s yuva shakti. Recognising the potential of the demographic dividend, the government has launched transformative initiatives like Make in India, Digital India, Startup India, Skill India, PM Mudra Yojana, and the National Career Service portal. Combined with investments in infrastructure, innovation, and technology, these have expanded opportunities for employment, entrepreneurship, and skill development.

India’s growth story is also a story of rising employment. Research shows that between 2017-18 and 2023-24, India’s employment elasticity stood at 1.11, meaning that every 1 per cent increase in Gross Value Added was accompanied by a 1.11 percent rise in employment. This marks a sharp improvement over the employment elasticity of 0.008 between 2011-12 and 2017-18.

According to RBI KLEMS data, more than 17 crore jobs were created between 2014 and 2024, compared to 2.9 crore during 2004-14. The employment rate increased from 46.8 percent in 2017-18 to 57.4 percent in 2025, while unemployment declined to around 3.1 percent, below the global average of 4.8 percent. EPFO payroll data further indicate that more than 8 crore formal-sector jobs were added between 2017 and 2025.

The story of New India is equally about ensuring people are protected through a robust social-security system. Social-security coverage increased from 25 crore people (19 per cent of the population) in 2015 to more than 94 crore (64.3 per cent) in 2025. In recognition of this achievement, India received the International Social Security Association’s Award for Outstanding Achievement in Social Security in 2025.

The Modi government, in the first budget of its third term, introduced the most ambitious employment initiative in independent India’s history: The Pradhan Mantri Viksit Bharat Rozgar Yojana (PMVBRY). With an outlay of nearly Rs 1 lakh crore, PMVBRY aims to support the creation of more than 3.5 crore employment opportunities over two years. Under Part A of the scheme, first-time employees receive financial assistance of up to Rs 15,000 in two instalments. Under Part B, employers receive incentives of up to Rs 3,000 per employee per month for every additional worker employed. It provides incentives for up to four years to eligible manufacturing employers and for up to two years in other sectors. By putting money directly into workers’ pockets, PMVBRY rewards work, makes jobs more attractive, and helps families remain financially secure. Financial incentives for employers can generate positive cyclical impacts on industrial growth.

PMVBRY’s success is now being marked through a nationwide event. Today, Prime Minister Modi will disburse incentives worth Rs 2,400 crore to 15 lakh beneficiaries through direct benefit transfer. Simultaneously, events across 200 major industrial clusters will see appointment letters distributed to beneficiaries, and employers felicitated for creating opportunities.

As India moves towards the centenary of Independence, it is sending a clear message to the world: Its greatest strength is its young population. Twelve years of reforms have been driven by a strong partnership between employees and employers. The Modi government has recognised both as equal partners in nation-building, ensuring workers are protected, enterprises are empowered, and the benefits of growth are widely shared.

As India advances towards Viksit Bharat, employees and employers will continue to serve as the twin engines of growth, prosperity, and opportunity. “Rozgar ho ya karobaar, saath hai Bharat sarkar.”

The writer is Union Minister of Labour & Employment and Youth Affairs & Sports