India, one of world's biggest job-creators

India may be lagging behind China in terms of economic growth or becoming a global manufacturing hub, but it has outpaced the Communist giant in creating the maximum number of jobs among the BRIC nations.
The Organization for Economic Cooperation and Development (OECD) in its Employment Outlook 2007 report released on Tuesday said that India, the world's second-fastest growing economy after China, generated more than 11 million new jobs every year during 2000 to 2005 -- higher than Brazil, Russia and China.
The four countries together created over 22 million net new jobs on an average per year during 2000 and 2005, which is more than five times the net employment gains recorded in the OECD area as a whole over the same period.
India generated 11.3 million net new jobs per year on an average during this period, higher than 7 million in China, 2.7 million in Brazil and 0.7 million in Russia. In contrast, the average was 3.7 million in the OECD area as a whole.[View Full Article]