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.
Kishore Biyani Chairman, Future Group