It's all informal.

"Informal manufacturing and service sectors grew faster than the informal trade sector in 2022-23, data released by the government showed" ET. "The gross value added (GVA) of unincorporated manufacturing companies increased by 19.14% to Rs 3.6 trillion" in October-September 2022-23 compared with Rs 2.77 trillion in April-March 2021-22. GVA of the services sector increased by 18.9% during the same period. Jobs increased by 6.3% in the informal manufacturing sector and by 13.4% in the services sector. However, "Emolument per worker declined 1.1% in 2022-23," as "Formal workers' compensation went down 1.2%, whereas informal workers compensation increased 4.3% during this period." "90% of India's workforce belong to the informal sector who contribute more than half of the country's GDP. Informality leads to precarity." "A workforce facing such precarity is less productive," wrote Rajendran Narayanan. Obviously, if 90% of the workforce is contributing 50% of GDP the other 10% in the formal sector is contributing the remaining 50%, that is 9 times more. A 1.2% fall in compensation of this 10% resulted in 1.1% decline in average earning per worker despite a 4.3% increase in the wages of the 90%. Shows the astronomical inequality between formal and informal workers. No wonder 86% of employees in India admit they are struggling or suffering and 35% feel daily anger, according to Gallup 2024 report. ET. "India is slowly becoming the hub for Global Capability Centers (GCCs) which Western companies set up offshore to access specialized high-skill talent, catalyze growth and innovation, and ensure business continuity in the wake of macro-environmental shocks." ET. On the other hand, "TCS (Tata Consulting Services) is grappling with a significant challenge as it struggles to fill 80,000 open position due to a notable skills gap." ET. "Indian startups have laid off about 10,000 employees so far in 2024 with funding across stages continuing to be constrained." Around 21,000 lost their jobs in the first half of 2023 and 15,000 in the second half. ET. Only 10,000 this year, a big improvement. However, there is a ray of optimism. According to the Foundit Insights Tracker "the overall hiring index increased from 265 in May 2023 to 295 in May 2024", an increase of 11%. ET. "Escalating tensions with China are said to have cost Indian electronics manufacturers $15 billion in production losses as well as 100,000 jobs in the past four years." That's because "4,000-5,000 visa applications for Chinese executives are currently awaiting government go-ahead". ET. Whereas, "Union steel and heavy industries minister HD Kumaraswamy of JD(S) wondered aloud if India needed investments like US-headquartered semiconductor manufacturer Micron Technology setting up a $2.5 billion unit in Gujarat and potentially receiving Rs 3.2 crore in subsidies for every job it creates." TOI. Americans are too expensive. Handover our businesses to the Chinese. 90% of our workers won't know the difference.