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

Pic: BRC

Retail | On 4th Jul 2020

UK retailers collaborate to combat climate change

Twenty UK retailers have signed a declaration to develop a road map...

Pic: Thika Cloths Mills

Apparel/Garments | On 4th Jul 2020

Hope for Kenyan fabric manufacturer after govt order

Kenya's Thika Cloths Mills that was on the brink of closure following ...

Pic: Canopyplanet

Apparel/Garments | On 4th Jul 2020

Amazon is part of CanopyStyle initiative

Amazon, the largest online retailer, has joined CanopyStyle...

Interviews View All

Top executives, Association

Top executives
Association

'Support and Outreach' huge relief for MSMEs

Karan Toshniwal, Orange O Tec

Karan Toshniwal
Orange O Tec

Contemporary industry is paying more and more attention to the...

Dinaz Madhukar, DLF Emporio and DLF Promenade

Dinaz Madhukar
DLF Emporio and DLF Promenade

‘Each event and promotion is planned out keeping in mind the business of...

Prakhar Singh,

Prakhar Singh

Morgan Tecnica offers the largest and most modern range of solutions for...

Urmil Arya,

Urmil Arya

Sushila International, a well established textile organisation established ...

Carmen Silla,

Carmen Silla

Leading the transformation of the textiles industry with disruptive...

Steve McCullough & Marco Weichert, Functional Fabric Fair & Design and Development GmbH Textile Consult respectively

Steve McCullough & Marco Weichert
Functional Fabric Fair & Design and Development GmbH Textile Consult respectively

Functional Fabric Fair is a trade-exclusive event showcasing the latest...

Madison Maxey, Loomia

Madison Maxey
Loomia

Loomia designs and manufactures soft circuit systems that can be produced...

Ray Baughman, University of Texas -Dallas

Ray Baughman
University of Texas -Dallas

<div>A team of scientists and researchers have discovered twistrons,...

Judy Frater, Somaiya Kala Vidya

Judy Frater
Somaiya Kala Vidya

Among the many honours showered on Frater, including Fulbright and Ford...

Amiben Shroff, Shrujan

Amiben Shroff
Shrujan

From its modest beginning in the late 1960s, Shrujan has grown into a...

Prathyusha Garimella, Prathyusha Garimella

Prathyusha Garimella
Prathyusha Garimella

Hyderabad-based designer <b>Prathyusha Garimella</b> is known for blending ...

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

Leave your Comments


July 2020

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


Advanced Search