Prime Minister Narendra Modi on Thursday said that new possibilities are being created for the youth as India's economy is expanding and unemployment is decreasing fast in India.

In a virtual address at Kaushal Dikshant Samaroh 2023, the Prime Minister said that employment creation in India has reached a new height and the unemployment rate in India is at its lowest level in six years according to a recent survey.

Noting that unemployment is decreasing rapidly in both rural and urban areas of India, PM Modi emphasised that the benefits of development are reaching both villages and cities equally, and as a result, new opportunities are increasing equally in both villages and cities. 

He also pointed out the unprecedented increase in the participation of women in India's workforce and credited the impact of the schemes and campaigns that have been launched in India in the past years regarding women empowerment.

Addressing the gathering, the prime minister remarked that this festival of skill development is unique in itself and "today’s event of joint convocation of skill development institutions across the country is a very commendable initiative". 

He said that Kaushal Dikshnat Samaroh reflects the priorities of today's India. Acknowledging the presence of thousands of youth connected with this event through technology, Modi conveyed his best wishes to all the youth.

He highlighted the importance of the power of the youth in utilising the strengths of any country such as its natural or mineral resources, or its long coastlines and said that the country develops more with stronger youth power thereby doing justice to the nation’s resources.

PM Modi emphasised that a similar thinking is empowering India’s youth which is making unprecedented improvements in the entire ecosystem. 

“In this, the country's approach is two-pronged,” the Prime Minister said. 

He explained that India is preparing its youth to take advantage of new opportunities through skilling and education.

Highlighting the recent figures released by the International Monetary Fund, PM Modi informed that India will remain the fastest-growing major economy in the coming years. He also recalled his resolve to take India among the top three economies of the world and said that the IMF is also confident of India becoming the top three economies of the world in the next three-four years. 

The Prime Minister underlined that it would create new opportunities for employment and self-employment in the country. 

Concluding the address, he stressed on making India the biggest centre of skilled manpower in the world in order to provide smart and skilled manpower solutions.