Every manufacturing job has the potential to generate more than two jobs in other sectors of the economy, the 2024 edition of the Industrial Development Report by the
The report, which was released on Tuesday and accessed by The Nation, shows the transformative potential of modern industrial policies to offer novel solutions to current global challenges, from resource scarcity and climate change to widening socioeconomic disparities and a growing world population.
Müller, however, said a precondition is access to sustainable energy for all because energy is the basis of any and all development. “Moreover, the growing population in developing countries will need decent jobs and industry can provide these,” he added. IDR24 emphasises why and how modern industrial policies must leverage megatrends such as the energy transition, the Fourth Industrial Revolution , global trade rebalancing and demographic shifts.The report said such policies must not only be Sustainable Development Goals -oriented, but also future-ready, collaborative, and regionally coordinated.
“There has been significant progress in infrastructure, energy and resource efficiency over the past decade, with great opportunities for transformative economic growth by leveraging abundant renewable resources to leapfrog into clean industrialization,” the report said.