New Delhi : Congress President Rahul Gandhi on Monday cited endorsement of his concern over the mass unemployment becoming the biggest threat to India from a Noble prize winning economist.
He tweeted: “The Nobel prize winning (American) economist confirms what we have been saying for over two years now: Mass unemployment is the biggest threat India faces. Unfortunately, we have a PM who lives in denial. Afraid his ‘’Acche Din’’ PR will take a beating,” he added.
Speaking at an event on Saturday, Paul Krugman had warned that India could end up with huge mass unemployment if it does not grow its manufacturing sector.
“There is this concept called artificial intelligence that you should be wary of. In future, while diagnosis may be outsourced to a doctor in India, it could also go to a firm based on artificial intelligence. Things like this could be a cause for worry for Indian services sector,” he said.
He cited how Japan ceased to be a superpower because its working-age population declines and China is looking the same.
“In Asia, India could take the lead but only if it also develops its manufacturing sector, not only the services one,” he said.
“India’s lack in the manufacturing sector could work against it, as it doesn’t have the jobs essential to sustain the projected growth in demography. You have to find jobs for people,” Krugman said.