In the ongoing debate on Foreign Direct Investment, FDI, in fast-growing retail sector, experts believe that it has the potential to significantly boost hiring activities and create about 80 lakh jobs in the country. To put across their views experts cited the example of US-based Walmart, which alone employees close to 1.8 million people. Though some experts refrained from quantifying the number of job opportunities due to opening up of the retail sector as the details such as the number of how players who will come in, is not clear, they were unanimous on the fact that there will be "substantial" job creation.
Meanwhile the government has decided to put on hold the controversial decision on FDI in retail sector, in an apparent bid to break the Parliament logjam.
Source: Business Standard