look news india
The revenue and profit figures of the six major groups of Indian industrialists namely Tata, Reliance, Adani, Bajaj, AV Birla, Mahindra looked very attractive but the job creation figures were very disappointing.
That is, these industrial groups were ahead in terms of revenue and profit but were behind in providing employment to Indians. The industrial group is inching closer to the target of a combined market capitalization of Rs 100 lakh crore. As of September 10, the combined market capitalization of these top groups was reported to be Rs 99.2 lakh crore.
The growth of these groups was found to be stable after important metrics like revenue and profit. That is, the revenue and profit figures of these groups were good. The revenue of these groups grew at a rate of 7.3 percent in 2023-24. While the rate of increase in profit was 22.3 percent. Also, market capitalization also grew at a rate of 43.8 percent. But the employment rate by these industry groups saw a slow growth of -0.2 percent. A total of 69 companies of these top six industry groups of India are listed on the stock market. In which the number of employees was recorded at 17.4 crore in 2022-23. This ratio decreased marginally to 17.3 crore in 2023-24, it was known on the basis of annual data.
Another report says that not only these six groups are lagging behind in terms of employment, the picture is also very worrying in the case of other companies. A survey conducted on 1,196 companies on the issue of employment provision revealed a shocking fact that the rate of employment provision increased by 5.7 percent in 2022-23, but decreased to 1.5 percent in 2023-24.