India has demonstrated remarkable economic trajectory throughout the twenty-first century, establishing itself as one of the world's fastest-growing major economies. The nation possesses several favorable demographic and economic indicators that augur well for sustained future growth, most notably its youthful working-age population, which represents the largest such demographic globally. However, India presents a compelling paradox in contemporary economic development, wherein the nation maintains its position as the world's fastest-growing major economy with projected GDP growth rates of 7 percent and 6.5 percent for fiscal years 2024-25 and 2025-26 respectively, yet simultaneously confronts significant challenges in employment generation. This study endeavors to examine whether employment growth rates correspond proportionally with GDP expansion, or whether the economy is experiencing the phenomenon of jobless growth. The research methodology encompasses a dual analytical approach: first, investigating the correlation between job creation and GDP growth patterns; second, examining employment trends within selected Public Sector Undertakings (PSUs) in relation to their revenue and profit trajectories through Compound Annual Growth Rate (CAGR) calculations. The empirical findings reveal that India's labour market structure is undergoing fundamental transformation, becoming increasingly dynamic while simultaneously exhibiting tendencies toward informalisation. The period spanning 2011-12 to 2017-18 demonstrates clear evidence of jobless growth patterns within the economy. Particularly noteworthy is the analysis of Maharatna companies, where employment levels have either declined or remained stagnant across most PSUs, despite concurrent increases in their profit margins and revenue streams during the 2014-15 to 2023-24 timeframe, thereby exemplifying the disconnect between economic performance and employment generation.