Retail sector will create 1.66 lakh new jobs in FY20: TeamLease Report

In April-September of FY20, FMCG/D sector will create about 1.10 lakh jobs.

0
336

According to the ‘Employment Outlook Report’ by staffing firm, TeamLease Services, the retail sector alone will witness a two per cent rise in employment outlook in April-September FY20, resulting in 1.66 lakh new jobs. The fast-moving consumer goods and durables (FMCG/D) sector, on the other hand, may witness a one per cent hike and add about 1.10 lakh new jobs.

The study covered 775 small, medium and large companies from 19 sectors across the country as well as 85 businesses across global markets. It also examined the employment trends, attrition and hiring sentiments.

The reasons for job growth was attributed to growth in the sectors combined with the arrival of foreign retail giants, extended capacity and acquisitions.

Maximum jobs in retail were created in Delhi and Bengaluru whereas maximum jobs in the FMCG/D space were witnessed in Mumbai (14,770 new jobs) and Delhi (10,800 new jobs).

Easing of FDI regulations, emergence of new food parks, expansion of capacity, acquisitions, are some of the factors that have and will facilitate job creation.

The retail sector alone will create 33,310 jobs for fresh graduates across Indian cities. The retail market of the country is expected to grow by 60 percent and reach Rs 70 trillion in a year’s time. Big names, such as Walmart and IKEA are expected to invest about Rs 2.75 trillion and Rs 10,500 crore respectively in the retail sector.

Comment on the Article

Please enter your comment!
Please enter your name here