India has wage problem, not job problem: Mohandas Pai
Bengaluru: Former Infosys CFO and multi-sector investor T V Mohandas Pai said India does not face a job problem, but one of the wages, as a lot of low paid jobs being created do not find favour with degree holders.
"India is not producing good jobs, but creating a lot of ₹10,000- ₹15,000 low-paid jobs which are not fancied by degree holders. India has a wage problem, not a job problem," Pai said.
Also, India has regional and geographical problems, Pai said.
Pai suggested that India adopt the Chinese model of opening up labour-intensive industries and building infrastructure near coasts, besides investing heavily in hitech R&D to meet the aspirations of job-seekers.
"We should look at what China has done. They first opened up the labour intensive industry invited the rest of...