The top 28 listed manufacturing companies by revenue across industry segments increased their workforce by 2.87 per cent a year between 2003-04 and 2012-13, bringing into focus the allegation of jobless growth during the United Progressive Alliance’s decade in power.
These 28 companies, from industries as diverse as automobiles, capital goods, cement, chemicals, fertilisers, pharmaceuticals and textiles, saw their revenue grow 17.8 per cent a year during this period. Their workforce increased from 188,702 in 2003-04 to 250,466 in 2012-13. They simply added 61,000 jobs over the decade, of which more than half were in just two sectors, capital goods and textiles.
The companies chosen were industry leaders by revenue, provided they also put out employment figures in their annual reports. If not, the company next in revenue made the list.