While proponents and opponents of FDI in retail are trying to explain the benefits and risks of allowing FDI in retail; nevertheless the decision to allow FDI in retail has spurred action in the search and placement market. According to Indian Staffing Federation, “FDI in retail is estimated to create approximately 4 million direct jobs and 5 million to 6 million indirect jobs, including contractual employment, within 10 years, making it the largest sector in organised employment.” These are early days yet, but recruitment firms have gone into a huddle to ensure they bag the mandates from retail companies about to enter India. Names have been sent to parent companies on domestic retail and supply chain heads, who can be poached.
The retail sector is expected to grow at 10 – 12 percent per year, and according to Global Retail Development Index 2012, India ranks fifth among the top 30 emerging markets for retail. The $450-billion industry is the second largest employer in the country after agriculture.
Source: The Economic Times