Disburses Rs 2,400 cr under PM-VBRY
New Delhi: Prime Minister Narendra Modi on Friday said India is preparing to lead the economy of the future as he disbursed incentives worth around 2,400 crore under the Pradhan Mantri Viksit Bharat Rozgar Yojana (PM-VBRY), a flagship employment-linked incentive scheme that has supported the creation of 15 lakh jobs across the country.
Addressing beneficiaries, industry representatives and stakeholders associated with the scheme, PM Modi said India was equipping its youth with the skills and capabilities required to thrive in a rapidly evolving global economy.
“While the world is preparing for the economy of the future, India is preparing to lead it,” the Prime Minister said, adding that new trade agreements with countries around the world were opening fresh markets for Indian industries and creating new opportunities for Indian professionals.
The Prime Minister said PM-VBRY was aimed at empowering first-time employees and strengthening the link between industry and the workforce. The incentive disbursement marks a significant milestone in the implementation of the scheme, which seeks to expand social security coverage while encouraging employment generation.
Sharing the scheme’s progress, PM Modi said nearly 70 lakh new jobs have been created so far and an equal number of first-time employees have been brought under the social security net. He said around 20 lakh youth have completed six months in their first jobs, while nearly 10 lakh beneficiaries have already received incentives after reaching that milestone. More than 2,000 crore has been directly transferred into beneficiaries’ bank accounts.
Describing the programme as more than an employment scheme, PM Modi said it supports both employees and employers by helping young people begin their professional journeys while incentivising institutions and enterprises to create new jobs.
The Prime Minister said employment generation gains momentum when the government, industry and youth work together. He termed the initiative a reflection of a “new India” where young people receive opportunities, industries receive encouragement and job creation becomes a national mission.
Referring to his recent visit to France and Slovakia, where he attended the G-7 Summit and met world leaders, PM Modi said Indian youth were receiving unprecedented global recognition for their talent, skills and potential.
He said the government remained committed to ensuring every young Indian had the opportunity to convert that potential into success.
Highlighting India’s demographic advantage, PM Modi said the country’s journey towards becoming a developed nation was closely linked to the aspirations and capabilities of its youth.
Over the past 12 years, he said, the government had strengthened multiple pathways for employment through investments in infrastructure, innovation, manufacturing, the digital economy, startups and emerging technologies.
PM Modi said government investment exceeding 12 lakh crore in infrastructure was creating a strong foundation for employment generation, while assistance of over 33 lakh crore under the Pradhan Mantri Mudra Yojana had enabled millions of young people to start their own enterprises.
He also highlighted women’s growing role in economic development, stating that more than 10 crore women are associated with Self-Help Groups and over 3 crore have emerged as Lakhpati Didis. Schemes such as PM SVANidhi and PM Vishwakarma, he said, have strengthened the livelihoods of street vendors, artisans and small entrepreneurs.
Pointing to emerging sectors, PM Modi said the rapidly expanding drone industry was creating new employment opportunities in areas ranging from agriculture and medicine delivery to land mapping and defence operations. He also cited the digital economy, gig work, platform-based services, content creation and technology-driven enterprises as major sources of jobs and income.
The Prime Minister highlighted the growth of India’s startup ecosystem, noting that the number of registered startups had increased from around 500 a decade ago to more than two lakh today, spread across nearly every district of the country.
He said recent engagements with global investors in sectors such as artificial intelligence, space technology, green energy and biotechnology reflected growing international confidence in India’s innovation ecosystem.
PM Modi also highlighted labour and social security reforms undertaken over the past decade, saying the government had focused on linking employment with security, dignity and social protection. Efforts were underway to modernise the Employees’ Provident Fund Organisation (EPFO), simplify pension systems and expand access to healthcare and insurance for workers, he said.
The Prime Minister further underlined the need to increase women’s participation in the workforce through reforms related to night-shift employment, promotion of work-from-home opportunities and strengthened workplace safety mechanisms.
Addressing industry representatives, PM Modi said skilled talent, innovation and quality would determine economic success in the 21st century. He urged industries to prioritise training, mentorship and internships, saying a developed India would be driven not by investment alone but by talent, skills and innovation.
Concluding his address, PM Modi expressed confidence that India’s youth would exceed global expectations through their determination, creativity and capabilities, and reaffirmed the government’s commitment to supporting their aspirations as the country advances towards the goal of becoming a developed nation.
