According to report release by Confederation of Indian Industry (CII) & ICRA Management Consultancy Services (IMaCS) on September 18, 2008 during CII Global Summit on Skills. The non availability of trained manpower, especially at the management level, poses a key risk for the retail sector. With growing opportunities in the emerging service sectors, the ability of the retail business to hire and retain quality people is under pressure. The report was released on September 18 in New Delhi.
The report titled Skill Gaps in the Retail Industry says, We estimate that about 1.5 to 2 million human resources are employed in the Organised Retail segment as of now. We estimate this number to increase to about 5.5 to 6.5 million by 2015. This would entail that the incremental human resource requirement in the next seven to eight years to be around 4 to 5 million human resources, thereby making this sector a huge employment spinner.
On the market size and growth of Indian retail industry, the report states, The Indian retail market is the fifth largest retail destination globally. The Indian retail industry, both organised and unorganized, is estimated at US$ 350 billion towards the end of 2007. It is estimated to reach US$ 430 billion by 2010 and US$ 650 billion in 2015.
The report categorized the manpower requirement in organised retail in India into four categories. They are Minimal Education (cleaning, housekeeping etc.), Skill Category Level I (managing outlets, customer service etc.), Skill Category LeveIl I (marketing, selling, merchandising etc.) and Specialised Skills (supply chain design and management etc).
On the panel discussion on Skills Development in Retail sector, held at CII Summit, Mr Navin Bhatia, COO, Bharti Retail highlighted some facts of Indian retail industry and said, There are 3 lakh people engaged in Indian retail industry which is estimated to 5 lakh in near future. There is only 35% people are engaged in organised retail sector which is 85% in America.
Mr Hari Abburi, Vice President HR, Bharti Retail commented, There are 22 million educated people in the country out of which 16.2 million people are employed. Hence, there is a shortage of skilled manpower.
Ms Mukul Rastogi, Vice President HR, ITC Ltd There is huge learning and employment opportunity in Retail sector. The interesting thing for youth is that in this sector behaviour skills including basic language and communication skills are more required than technical skills.
In retail sector, we find skills shortage in two levels. They are Front line level skills which include Store Operations, Selling etc and second is Specialised skills like Product Development, Resource and Development, Merger and Acquisitions etc., she added.
Earlier, the two-day CII Global Summit on Skills Development was inaugurated on September 17 by Mr Oscar Fernandes, Minister of State (Labour & Employment) Independent Charge Government of India.
EmployablityUniverse.com, Indias first portal on employability development for Indias rapidly growing knowledge economy, is the Official Media Partner of the summit. EmployabilityUniverse.com is published by media company Triumph Mediatech, which also publishes Indias leading management portal MBAUniverse.com and print magazine M NOW.
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According to report release by Confederation of Indian Industry (CII) & ICRA Management Consultancy Services (IMaCS) on September 18, 2008 during CII Global Summit on Skills. The non availability of trained manpower, especially at the management level, poses a key risk for the retail sector. With growing opportunities in the emerging service sectors, the ability of the retail business to hire and retain quality people is under pressure. The report was released on September 18 in New Delhi.
The report titled Skill Gaps in the Retail Industry says, We estimate that about 1.5 to 2 million human resources are employed in the Organised Retail segment as of now. We estimate this number to increase to about 5.5 to 6.5 million by 2015. This would entail that the incremental human resource requirement in the next seven to eight years to be around 4 to 5 million human resources, thereby making this sector a huge employment spinner.
On the market size and growth of Indian retail industry, the report states, The Indian retail market is the fifth largest retail destination globally. The Indian retail industry, both organised and unorganized, is estimated at US$ 350 billion towards the end of 2007. It is estimated to reach US$ 430 billion by 2010 and US$ 650 billion in 2015.
The report categorized the manpower requirement in organised retail in India into four categories. They are Minimal Education (cleaning, housekeeping etc.), Skill Category Level I (managing outlets, customer service etc.), Skill Category LeveIl I (marketing, selling, merchandising etc.) and Specialised Skills (supply chain design and management etc).
On the panel discussion on Skills Development in Retail sector, held at CII Summit, Mr Navin Bhatia, COO, Bharti Retail highlighted some facts of Indian retail industry and said, There are 3 lakh people engaged in Indian retail industry which is estimated to 5 lakh in near future. There is only 35% people are engaged in organised retail sector which is 85% in America.
Mr Hari Abburi, Vice President HR, Bharti Retail commented, There are 22 million educated people in the country out of which 16.2 million people are employed. Hence, there is a shortage of skilled manpower.
Ms Mukul Rastogi, Vice President HR, ITC Ltd There is huge learning and employment opportunity in Retail sector. The interesting thing for youth is that in this sector behaviour skills including basic language and communication skills are more required than technical skills.
In retail sector, we find skills shortage in two levels. They are Front line level skills which include Store Operations, Selling etc and second is Specialised skills like Product Development, Resource and Development, Merger and Acquisitions etc., she added.
Earlier, the two-day CII Global Summit on Skills Development was inaugurated on September 17 by Mr Oscar Fernandes, Minister of State (Labour & Employment) Independent Charge Government of India.
EmployablityUniverse.com, Indias first portal on employability development for Indias rapidly growing knowledge economy, is the Official Media Partner of the summit. EmployabilityUniverse.com is published by media company Triumph Mediatech, which also publishes Indias leading management portal MBAUniverse.com and print magazine M NOW.
| Check Top MBA Colleges in India by Cities | | |
| Also Read Important Articles on MBA Admission | ||
| Top MBA Colleges in India | MBA Admission | MBA Entrance Exam |
| MBA Placements | MBA Ranking In India | GD Topics |
The non availability of trained manpower is the major problem area for the fast growing Indian retail industry.