What makes things worse is poor working conditions and limited compliance with health and safety standards, which explains low interest among job-seekers for the industry, the Assocham-Thought Arbitrage Research Institute (TARI) study found out.
The pecking order has pharmaceuticals in the lead with an average salary of Rs 5.09 lakh per annum. The figure for capital goods reads Rs 4.94 lakh, while electronics settles for Rs 4.43 lakh, chemical (Rs 3.97 lakh), automotive (Rs 3.77 lakh), construction material (Rs 2.88 lakh), metal and metal products (Rs 2.54 lakh), which makes them more lucrative for job-seekers.
Unorganised players and small-scale enterprises, not known to use cutting-edge technology and high-quality materials in the manufacturing process, also pull down the industry growth, the study observed.
"Sustainable growth of any industry needs continuous supply of new talent with skills and ground-breaking ideas," it suggested.
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"Manual methods of cutting, polishing, manufacturing and designing of gems and jewellery need to be substituted with high-end machines and software by imparting practical training to the youth on the use of laser machines and other modern techniques prevalent globally," Assocham Secretary General D S Rawat said.
It also made a strong case for providing safety kits with daily-use equipment like goggles, gas masks, gloves, lab coats and others to workers, noting that such measures can help reduce negative impact on workers' health, attract more young population and retain the existing workforce.