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Interestingly, 50% of these jobs will go to women.
These findings, are part of a study conducted by the
business intelligence team of Executive Search consultancy
Elixir Web Solutions.
Retail, both in the organised and unorganised sectors,
currently valued at about $300 billion, is expected
to grow to $427 billion by 2010. It contributes 13%
of the country's GDP. Organised retail sector growing
at about 30% per annum is likely to increase its current
share of about 3% to 20% of the total in the next three
years. India is poised to become a retail hub in the
coming years.
"The unprecedented growth in the sector would
translate into local employment opportunities for millions
and would offer lucrative pay packages with 20% organised
retail employees expected to become tax payers,"
says the study.
"After leading global biggies like Wal-Mart making
their entry into the country, a major concern for domestic
retailers would be to maintain their USPs in terms of
service standards as products can be easily replicated,"
adds the study.
"Product and value differentiation is short-lived
as it can be replicated quickly, the real challenge
for CEOs of retail majors is maintaining quality service
standards and hence they have to prepare their executives
accordingly," says the study
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