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25 million new jobs in Indian retail sector by 2030: study
Around 25 million new jobs will be created by the Indian retail sector by 2030, as per Retail 4.0 Report released by Nasscom in partnership with Technopak.
According to the study, Retail 4.0 will result in a significant rise in the size of the domestic market, job creation, and exports. The changing demand and supply drivers are likely to accelerate the growth momentum, with the India retail market reaching up-to $1.5 trillion by FY2030.
“As India leaps forward to become a digitally transformed nation, the country’s retail sector has emerged as one of the most dynamically-evolving, rapidly digitising sectors, with the second-largest consumer base in the world, from 5th largest in 2020,” found the study.
Over the last decade, as per the study, the Indian retail market size has witnessed a massive growth of 3X, accounting for $800 billion, contributing 10% to India’s GDP In FY 2019-20 and 8% to the total workforce with more than 35 million employees.
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