Re­tail

India Today - - COVER STORY | JOBS -

SIZE $600 bil­lion CON­TRI­BU­TION TO GDP 10% TO­TAL JOBS 40 mil­lion CHAL­LENGES

Con­trary to cer­tain other sec­tors, we have seen job growth in or­gan­ised re­tail. The for­mal­i­sa­tion of the econ­omy is help­ing this sec­tor and is creat­ing more av­enues for job cre­ation.

The sec­tor is go­ing through a tran­si­tion. Com­pa­nies such as ours be­long to the new ecosys­tem. Re­tail is a ma­jor job cre­ator, since you do not need to be a grad­u­ate to get a job. Even a per­son who has [only com­pleted school] can take up a job in re­tail and get on-the-job train­ing.

WHAT NEEDS TO BE DONE

Com­pa­nies need to im­prove ef­fi­ciency and reach out to cus­tomers. In­dian com­pa­nies have the abil­ity to build brands and prod­ucts and to un­der­stand In­dian con­sumers on their terms.

If In­dia reaches con­sump­tion lev­els of $1.5 tril­lion, that will cre­ate jobs across the spec­trum of re­tail, dis­tri­bu­tion, ware­hous­ing and lo­gis­tics. We can turn our vast pop­u­la­tion into an ad­van­tage.

The next round of growth will come from con­sump­tion, so the gov­ern­ment should en­cour­age con­sump­tion growth.

We need to train peo­ple on the job so that they pick up skills fast.

CHANDRADEEP KU­MAR

Kishore Biyani Chair­man, Fu­ture Group

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