Home / Knowledge / News / Apparel/Garments / Indian retail sector to need 56mn workforce by 2022: NSDC
Indian retail sector to need 56mn workforce by 2022: NSDC
21
May '15
“The booming Indian retail sector will need around 56 million workforce by 2022,” says a report from the National Skill Development Corporation (NSDC).

“The sector will also have one of the highest incremental human resource requirements of 17.35 million between 2013 and 2022,” the report adds.

NSDC mapped 24 sectors for assessing incremental human resource requirement in the country.

According to the findings of the report, the Indian retail industry estimated at $435 billion is expected to witness a CAGR of 18.1 percent over the next 4-5 years and reach $848 billion.

There will be considerable demand for skilled manpower as the industry is growing steadily, fuelled by like changing lifestyles, rising disposable incomes, favourable demographics, and easy credit availability.

The report states that the sector contributes to 23 per cent of the GDP, driven by an increasing Private Final Consumption Expenditure (PFCE).

Over the last few years PFCE has grown Rs 19 lakh crores in 2005 to around Rs 51 lakh crores in 2012 and in FDI terms, the cumulative value of retail sector has more than doubled.

Organised retail is no more an urban phenomenon as it is estimated that tier 2 and smaller cities will evolve fast, to constitute majority share of the organised retail in coming years.

Dilip Chenoy, CEO at NSDC says, “The potential for growth is huge in the sector as there are opportunities across various job roles in retail which the youth can capitalise on.”

“The metro cities are the major consumption hubs and preferred destination for large scale retail, but to match requirements of skilled manpower, we need to further scale up our efforts,” he too adds.

Organised retail is projected to grow at 29 per cent CAGR, with an increase in penetration of organised players from 7.7 to 11 per cent of the entire sector.

As per 68th round of the National Sample Survey (NSS), distribution of retail workforce is concentrated among Uttar Pradesh, Maharashtra, Andhra Pradesh, West Bengal and Tamil Nadu.

These five states account for over 45 per cent of the employment, since these states are also major consumption centres and home to India’s largest cities.

According to the report, the employment base of the industry is expected to reach 56 million by 2022 across conventional and specialised retail segments.

“While lack of premium attached to skills still remains a challenge in the sector, policy impetus is driving the focus on training,” the report informs.

Shortage of trained manpower at various levels and lack of retail training institutes have prompted several retailers to launch in-house training programs for their staff or setup their own training facilities.

Training period varies for typical generalists in segments such as food and grocery for a few days to weeks for specialists in segments such as high end lifestyle brands. (AR)

Click here to access and download the report.

 

Fibre2fashion News Desk - India


Must ReadView All

Apparel/Garments | On 23rd Sep 2017

AAFA urges negotiators to preserve TPLs in NAFTA

The American Apparel & Footwear Association (AAFA), an alliance of...

Textiles | On 23rd Sep 2017

SIMA urges Centre to re-look duty drawback rates

he Southern India Mills’ Association (SIMA) has appealed to the...

Textiles | On 23rd Sep 2017

PKR 690.65-mn budget for Pakistan Cotton Committee

The Pakistan Central Cotton Committee (PCCC) recently approved a PKR...

Interviews View All

Stefan Warnaar
Peak to Plateau

People are willing to pay for quality and performance

Cyril Pereira
Reed Exhibitions India, organiser of Asian Machine Tool Exhibition 2016

'Major problem in the textile machinery manufacturing industry is the lack ...

Abhishek Samdaria
Reflete

GST will certainly reduce a lot of paperwork in future

Kevin Nelson
TissueGen

Kevin Nelson, Chief Scientific Officer, TissueGen discusses the growing...

Marcel Alberts
Eurofibers

Coating at a fibre level is a practice not usually seen in the...

Steve Cole
Xerium Technologies

Steve Cole of Xerium Technologies discusses the industry. Xerium is the...

Nisha Chanda
Whistling Woods International School of Fashion

<div>A lack of upgraded courses in costume designing and fashion as per...

Akta Adani
India Boulevard

India Boulevard is a San Francisco-based curated fashion marketplace that...

Yash P. Kotak
Bombay Hemp Company

One of the directors of Bombay Hemp Company, Yash P. Kotak, speaks to...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH

September 2017

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

news category


Related Categories:

Planning to Take the Leap towards
Sustainability?

Do you see sustainability as a route to business growth?

Yes No

Do you think the sustainability space has the needed tools and resources available for a business to lead change?

Yes No

Active Poll

Do you see sustainability as a route to business growth?

Yes
74.5%
No
12.8%
Skip
12.8%

Total Votes: 47

Do you think adopting a sustainable approach will be a profitable move for your business?

Yes No

Active Poll

Do you think the sustainability space has the needed tools and resources available for a business to lead change?

Yes
61.7%
No
25.5%
Skip
12.8%

Total Votes: 47

Do you want the world to know about your sustainability journey and your business’ environmental footprint?

Yes No

Active Poll

Do you think adopting a sustainable approach will be a profitable move for your business?

Yes
87.2%
No
6.4%
Skip
6.4%

Total Votes: 47

Thanks for your valuable feedback. Claim your free latest sustainability e-book.

Active Poll

Do you want the world to know about your sustainability journey and your business’ environmental footprint?

Yes
70.2%
No
10.6%
Skip
19.1%

Total Votes: 47


E-News Insight
Subscribe Today and Get the
Latest News Update in Your Mail Box.
Advanced Search