MUMBAI, June 20: Retail and fast moving consumer
goods and durables (FMCG&D) sector together is likely to add
2.76 lakh new jobs in the first six months of the current
financial year following the entry of foreign retail giants,
the report said.
According to TeamLease Services biannual ‘Employment
Outlook’ report for the April-September 2019-20, the retail
sector will witness a 2 per cent increase in net employment
outlook, resulting in the addition of 1.66 lakh new jobs while
(FMCG/D) will see a 1 per cent growth adding 1.10 lakh new
jobs.
With 27,560 new jobs Delhi will top the list in retail
followed by Bengaluru with at 22,770 new jobs, it said.
The report revealed that the exponential growth
witnessed by the sector coupled with entry of foreign
retail giants, capacity expansion and acquisitions are some of
the key drivers of the job growth.
The report was done across 19 sectors and 14
geographies, surveying 775 enterprises in India and 85
businesses across the globe to evaluate employment outlook
trends.
While Delhi and Bengaluru were the top job creators in
retail, Mumbai with 14,770 new jobs and Delhi with 10,800 new
jobs will be the leaders for (FMCG/D), it said.
Setting up of food parks, capacity expansion,
acquisitions by the existing players, regulatory changes like
easing the foreign direct investments (FDI) in ‘cash and
carry’, single and multi-brand retail through automatic routes
are the key aspects that will push job creation by the sector,
it added.
“Apart from government interventions like easing of
FDI norms, expansions by the domestic players, the increase in
domestic consumption will also positively impact and bolster
the job creation by these sectors,” Teamlease Services Head of
Digital and IT Mayur Saraswat said.
In fact, he said, the job creation by retail and
(FMCG/D) will witness a 15.11 per cent and 10.31 per cent
growth respectively.
“Further, not only experienced talent seems to benefit
from the optimism in these sectors, it will see a positive
impact on fresher hiring as well. Retail sector alone will be
creating 33,310 new fresh graduates jobs across cities,” he
added.
The report also found that both FMCG and retail
experienced a significant increase in attrition in April-
September 2018-19, compared to October-March 2018-19.
Attrition in retail is seen at a 19.82 per cent and (FMCG/D)
at 16.03 per cent respectively, it added. (PTI)
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