Assocham says job cuts continue over project delays

New Delhi: Eighteen big projects in sectors like steel and power could have created jobs for 1.64 lakh people if these did not face bottlenecks in land acquisition and environmental clearance, industry body Assocham said on Sunday.
“Smooth implementation of the projects could have created job opportunities for at least 1.64 lakh people directly and 2.7 lakh people indirectly,'' Assocham President Sajjan Jindal said.
Jindal's remarks come in the face of reports of large- scale job losses in the manufacturing sector which has shrunk by 0.2 per cent in the third quarter this fiscal under the impact of global financial crisis.
The projects, which are stuck in the procedural hassles for the last four years include POSCO and M&M’s joint venture in Chennai with Renault and Nissan, the chamber said. The planned investment in all these projects was Rs 2.44 lakh crore, it said. The POSCO project alone could have generated employment for 35,730 people, the chamber said. Other steel projects facing delays are those of Tata Steel in Jharkhand and Arcelor - Mittal in Orissa and Jharkhand. Timely implementation of the M&M joint venture.