A new law in India allowing shops to remain open 24/7 could lead to a 10 percent growth in jobs in the short term across retail, IT and the services sector.
The Model Shops and Establishment (regulation of employment and condition of services) Bill will also make it easier for employers to have women working in night shifts, giving a leg-up to gender diversity as well.
“Retail and hospitality are the key sectors that will benefit from this kind of flexibility directly and immediately,” said Moorthy K Uppaluri, MD & CEO, Randstad India.
Kumar Rajagopalan, CEO, Retailers Association of India, said the total number of people employed by the retail industry could go up by 50 per cent to 6 crore by 2020. At present, the retail industry employs 4 crore people.
The new model bill, if adopted along with a comprehensive retail policy, would also provide opportunities for women to partake in the growth story of retail, where 92 per cent of industry comprises traditional retail.
The gender diversity of the Indian retail sector is currently at 20-23 percent, which is way below the global average of 50%.
(Source: Times of India)