Lots of
employment generation by Indian Organized Retail Sector in the near future.
India is going through a radical
economic change. Though it is very infant stage, people can feel the climate is changing. The unorganized
retailers takes the lion's share in the
Indian retail sector, but the organized
retailers are growing at a good pace, and promises an increase of proportion of 9 - 10% by 2010. This is to be the largest sector after the agricultural sector.
The increase in the number of consumers twinned with the introduction of organized sector has brought numerous corporate investments in retail sector. The entry of super
markets, enormous departmental stores, and shopping malls have encouraged the retailers to look at new business plans of expansion.
An
economic growth on a monumental scale is offered by the
Indian retail sector, equally in
the national and international
market which in turn will generate a huge source of
employment and a variety of options for the consumers. The Ernst & Young's report
'The Great Indian Retail Story', anticipates that the
Indian retail sector would come up with
2 million
employment opportunities within the year 2010.
Benefits to the economic growth:-
- Better quality products and services would lead to better competition
- More exports bring more foreign direct investments
- Organized Indian retail sector would encourage tourism
- Along with the employment boom there would be a vast development in the expertise
of the human resource
- There would remain future scope for improvements in agriculture, small, and medium
scaled with the help of the Indian retail sector
The present
employment in the
retail business is nearly 4 crores and around 20 crores
depends on this sector. There is a scope of better exposure to the international standards
with the entry of transnational companies, which in turn is encouraging more & more
retail
management programs to open up and help bridging the gap of supply & demand of talented professionals for management.
