SDGs and Decent Work Agenda:A Path for Inclusive Growth in India

Abstract

Sustainable Development Goals (SDGs) serve as guideposts for both developed and developing countries. There are as many as 17 goals along with 169 targets in its umbrella to be achieved by 2030 alongwith three dimensions of sustainable development in the world economy. In such economic, social, and environmental concerns of the world, India has the pledge to fulfil this mandate of the UN. However, the role and nature of economic growth in terms of intensity of factors of production are pivotal not only for achieving these goals, but also addressing distributional aspects of national income across socio-economic groups of the nation. Following the policy shift in early 1990s, India has achieved a brief phase of high economic growth but with rising income inequality. It has allegedly been created insecure employment and wages differential across sectors and sub-sectors of the economy. This paper attempts to delve deeper into the issue of decent work, stagnation of manufacturing sector, and failure of inclusive growth in the past seventy years of planned development and about three decades of market-led growth in India. Based on the ASI data for 2-digit industry classification, the manufacturing industry shows signs of pre-matured de-industrialisation in India since mid-1980s onwards. This does not auger well for generating decent work and inclusive growth. In the light of SDGs, we argue that unless industrial policy framework addresses manufacturing sector earnestly by providing incentives for innovation, and entrepreneurship, catalyse development of Human Capital by investing in the public education and skill development on sustainable basis, goal of inclusive growth will remain elusive as usual.