India will need 56 million skilled workers in retail by 2022: Report

Posted on 15th May 2015 | 1024 views

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India will need 56 million skilled workers in retail by 2022: Report

Retail sector in India is in booming phase and expected to need 56 million skilled workers by 2022. According to the latest report of NSDC, nearly $ 435 billion to witness a CAGR of 18.1 per cent over the next 4-5 years to touch $ 848 billion.As of now, distribution workforce in retail sector is accounts for 45 percent of employees in five states like Uttar Pradesh, Maharashtra, Andhra Pradesh, West Bengal and Tamil Nadu. There is a need of setting retail format in tier 2 and smaller cities. The report mentioned that, retail sector in India is rapidly growing with certain factors like changing lifestyles, rising disposable incomes, favourable demographics, and easy credit availability.

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