India’s Human Capital Key to Global Economic Leadership, Says HUL Chairman

India is well poised to become one of the world's leading economies by focusing on building human capital, HUL Chairman Nitin Paranjpe said. Emphasizing the importance of nurturing India's growing working-age population, Paranjpe highlighted sectors such as health, hospitality, and MSMEs for future job creation.

India is on the brink of emerging as a global economic leader by investing in its human capital, according to HUL Chairman Nitin Paranjpe. Speaking at the AGM, Paranjpe stressed the need to focus on developing India's young and expanding working-age population to unlock the nation's full growth potential.

The chairman emphasized the critical role of creating meaningful employment opportunities, particularly in sectors with high job elasticity, including health, hospitality, consumer retail services, global capability centers, and e-commerce. Paranjpe also highlighted the importance of the MSME sector, which generates over 60% of employment in developed nations but only 45% in India.

As India strives toward a USD 10-trillion economy, Paranjpe underscored the necessity of ensuring that the nation progresses on both economic and social indices, advocating for widespread access to education and livelihood opportunities for every child.