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‘Not Tatas, Birlas or Reliance but SMEs Will Create Jobs': Ajit Ranade

Ajit Ranade says Tatas, Birlas, Reliance or Adani would not create jobs, not even railways. It's going to be the small, medium and micro enterprises.

By Ishita Ganguly
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Ajit Ranade

Ajit Ranade

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In a recent interview, economist and political analyst, Ajit Ranade remarked that bigshot companies will not be able to create ample jobs in India. He shared that small, medium and micro enterprises would be the job providers in the country.

“It's not the large companies like Tatas, Birlas, Reliance or Adani that are going to create jobs, or even railways or the postal department or BSNL. It's going to be the small, medium and micro enterprises,” Ranade told Moneycontrol.

In the interview, he also commented that Budget 2025-26 should stay on the path of fiscal consolidation to bring direct tax reforms.

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India's worries as predicted by Ajit Ranade

He also opined that India should bother about low-cost Chinese imports.

“Even after paying punitive import tariffs, Chinese goods may actually be cheaper than those produced by domestic companies,” Ranade warned. “It's definitely a threat.”

Calling for immediate reforms on the direct tax front, the economist discussed the impact of the Donald Trump presidency on India and the rest of the world.

“On monetary policy, I think Trump prefers to have lower interest rates, despite inflationary conditions,” Ranade said in the interview. “That will also have an impact on India. So we'll have to see. If the inflation differential between India and the US is larger, that might mean more flows coming to India, but we'll have to watch that out.”

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Tags: India