PM Narendra Modi Urges Stakeholders To Invest In People, Innovation To Create Jobs

NEW DELHI: Prime Minister Narendra Modi on March 5 urged all stakeholders to work in union and invest in people for skill development, nurturing talent and promoting innovation, saying that these are essential for creation of employment opportunities and boosting the economy.

Participating in a post-Budget webinar on employment, Modi said the government had provided skill training to 3 crore youth since 2014 and decided to upgrade 1,000 ITIs and set up five centres of excellence.

Describing capacity building and nurturing of talent as the foundation stone for development of the nation, Modi said more investment in these sectors is essential to achieve the next phase of growth.

This year’s Union Budget paves the way for a stronger workforce and a growing economy. Addressing a post-budget webinar on boosting job creation. https://t.co/ymjiCeZoVb

— Narendra Modi (@narendramodi) March 5, 2025

“The vision of investment in people stands on three pillars —education, healthcare, and skill development,” he said adding that India’s education system was undergoing a transformation.

Modi said India is the fastest-growing major economy in the world and the nation’s GDP would reach $5 trillion level soon, up from $3.8 trillion at present.

“As per the IMF report, India’s economy has grown by 66% within a decade (2015-2025). India is currently a $3.8 trillion economy and is set to become a $ 5 trillion economy soon,” he said.

PM Internship Scheme

Modi said the government had launched the PM Internship Scheme to create new opportunities and inculcate practical skills in the youth.

“We must ensure that businesses at every scale actively participate in this scheme. In this year’s budget, we announced 10,000 additional medical seats, with a target of adding 75,000 seats in the medical field over the next five years,” he said.

The Prime Minister talked about the government’s decision to give infrastructure status to the tourism sector, saying that it will generate jobs.

He urged industry to invest in the health sector and talked about the potential of medical tourism to create jobs.

“To cater to a larger population, planned urbanisation is essential. We have decided to allocate Rs 1 lakh crore to the Urban Challenge Fund. The private sector, especially the real estate industry, must focus on planned urbanisation,” he said.

The government has given importance to skill development on par with the infrastructure sector, he added.

AI for economic growth

Pointing out that AI could contribute lakhs of crores to the economy, the Prime Minister said, “We have allocated Rs 500 crore for AI-driven education and research in the budget. India will set up National Large Language Model for development of AI capacity,” he said and sought for more investment in the segment.

He called for global collaboration to harness AI for economic growth, social transformation, and sustainable development while advocating for bias-free data sets in AI.

Focusing on the medical industry, Modi said telemedical facilities were being expanded in primary health centres. “Through day-care cancer centres and digital healthcare infrastructure, we aim to provide quality healthcare to the last mile,” he said.

He further noted that investment in people, the economy, and innovation is central to India’s development roadmap.

“This Budget serves as a blueprint for India’s future. While we have prioritised infrastructure and industries in investment, we have equally focused on people, the economy, and innovation,” he added.