By the end of 2013, the global unemployment rate exceeded 200 million people worldwide, according to a recent report issued by the International Labour Organization (ILO). The bulk of the jobless are attributed to East and South Asia.
As part of the its global employment trends report, the ILO predicts that India’s unemployment rate will increase to 3.8% in 2014, slightly higher than the 3.7% unemployment rate in 2013. China’s rate is also expected to increase slightly to 4.7% in 2014. And while unemployment rates for India and China are much lower compared to the crisis-hit European nations and even the United States, the sheer population volume in India and China contribute to a major chunk of the jobless worldwide.
The ILO report reflected that the East Asia and South Asia regions together represent almost half the job seekers worldwide. And, based on the current trends, ILO said “global unemployment is set to worsen further, gradually, reaching more than 215 million job seekers by 2018.”
To make matters worse, youth unemployment has risen to 74.5 million in 2013, almost 1 million more than in 2012. The youth unemployment rate has risen to 13.1% globally.
We have a very big challenge in front of us, and I want to make a humble contribution towards addressing the unemployment that is spreading across our youth. Though I have been an entrepreneur in USA for over 30 years now, my roots are in India. It is because of this that I have a particular affinity to strengthen the nation. I want to share my experience, ideas, resources and contacts to align opportunities in India & USA that will create a common platform essential to the development of Indian and its youth bank around the world.
In an effort to enhance job quality and opportunities in India the “I am Global INDIAN” forum was created. Our objectives are simple. Educate the youth of India. Attract investors to enhance the local economy. Inspire entrepreneurship and generate confidence in the country’s youth.
The forum aims to make India a preferred destination for investment and employment and we are hosting the inaugural event tomorrow, June 7th at Infocity Clubs and Resorts in Gandhinagar, India. I am Global INDIAN is the first forum of its kind. Indians from all over the globe are coming together to create opportunities for growth, enhance employment rates and secure the future for the youth of the country. I sincerely believe that such humble examples led by iAM Global INDIAN and others joining the effort will mobilize the youth of Indian origin across the globe, producing a positive output with lasting impact.