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Retail, FMCG sectors to add 276,000 new jobs in April-September: Report

With 27,560 new jobs, Delhi will top the list in retail followed by Bengaluru with at 22,770 new jobs, the report said

Press Trust of India  |  Mumbai 

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Retail and fast moving consumer goods and durables (FMCG&D) sector together is likely to add 276,000 new 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 'Outlook' report for the April-September 2019-20, the will witness a 2 per cent increase in net outlook, resulting in the addition of 166,000 new while (FMCG/D) will see a 1 per cent growth adding 110,000 new

With 27,560 new jobs, will top the list in retail followed by 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 outlook trends.

While and were the top job creators in retail, with 14,770 new jobs and 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. alone will be creating 33,310 new fresh graduates jobs across cities," he added.

The report also found that both 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.

First Published: Thu, June 20 2019. 16:02 IST