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Retail sector will create 25 million new jobs by 2030 – NASSCOM

A Report has been released by NASSCOM said that “By 2030, Retail Sector will generate 25 Million Jobs”. This will be equal to about 50% of total Employ…

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Retail sector will create 25 million new jobs by 2030 - NASSCOM

A Report has been released by NASSCOM said that “By 2030, Retail Sector will generate 25 Million Jobs”. This will be equal to about 50% of total Employment in Retail Sector with both Online and Offline Models.

NASSCOM report with Consulting and Management firm Technopak, both Offline and online Models will boost or push exports worth 125 Billion Dollars and GST Contribution 8 Billion Dollars in upcoming 10 Years.

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Retail 4.0 will significantly increase the size of the domestic market, generate employment and export. Changing demand and the pace of development of supply drivers is likely to accelerate. The report said that India’s retail market will reach $ 1.5 trillion by the financial year 2030.

NITI Aayog CEO Amitabh Kant said in a statement, “The retail sector is one of the growth engines for the country’s economy, with double-digit contribution to GDP and employment of around 3.5 crore persons in FY 2020.”

“The Government of India is in the process of formulating a National Retail Trade Policy, which will not only create an environment conducive to retail trade, but also simplify the policies hindering the development of the sector.”

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Both models will Contribute in GST of About 8 Billion Dollars in 10 years (by 2030), for exports worth 125 Billion Dollars and Contribution in GST of 37% of a total retail tax contribution.

According to the report, e-commerce in India is growing three to four times than traditional brick and mortar.

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Actually this was a survey, which conducted on about 360 Retail Stakholders, According to this survey 79% Companies said that technology will play an important role in Countries Development.

Manvendra Chaudhary, with over 5 years of professional experience as CEO of Unique News and Megalent Marketing, shares insights on life, business, and health for your success.

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