Time To Rebuild Trust Between People And Corporates

"Youth unemployment is staggeringly high - worldwide, an estimated 73 million young people between the age of 15 and 24 are unemployed. Some of the political and social unrest in the Arab world and parts of Europe is directly related to youth unemployment," he said. Bhartia said the focus should be on four areas that can create sustainable enterprise: education, employability, innovation and entrepreneurship.

"At the corporate levels, companies can put various strategies in place: they can create incentives to hire younger or female workers, or capture gains from labour mobility and establish home employment laws and best practices," he said.

The industrialist further said that what is relevant at a global level has to be applicable for individual nations too. With regard to India, he said the country is arguably set to take a giant leap forward and emerge as one of the world's four largest economies by 2020.

"But it is still reeling from the scourges of poverty, unemployment and alarmingly high infant mortality rates. "In India we have realised that businesses cannot be mere mute spectators to this reality. On the cusp of a new beginning, a national strategy embracing the idea of Business for Livelihood may well help India in its attempt to regain its rightful place at the high table of nations."

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