FDI in retail will bost the Indian Economy,creating more than 54,000 new job on sales in the next few years, in spite of Loud and persistent Hue and Cry from many people.

 FDI, retail has emerged as one of the fastest growing sectors in India.
Moving towards modernisation and consolidation, India’s retail sector, currently growing at 30%, is expected to generate 54,000 jobs over the next five years — a variety of opportunities from the entry level to senior management level; for freshers as well as seasoned professionals. The government has given each state the freedom to decide on how to implement FDI. It is likely that initially a few state will adopt it while the others will wait and watch. This is a comparatively recession-proof sector and the profession starts with designing of a product and continues till delivery of the product and is entirely driven by consumer-needs.

 Any industry has certain fields with stable employment requirements, which include computer operations, accounts, marketing sales, finance, networking, etc. With FDI, opportunities will be generated in front-end jobs, specialists in warehousing and retail management. The job spread is huge. The slowdown, which had earlier affected the stores, is likely to see a revival.

From the employment point of view, jobs will be created in not only mainstream areas such as retail, but also in areas such as front-end sales, facility management, security management, inventory, merchandising, customer relationship and visual merchandising, among others. In smaller towns, knowing the local language will be an asset because it will help one connect with the masses.

 Retail degrees
Does one need to pursue courses in retail to do well in this sector? Not necessarily. Freshers 
must work and learn the skills on-the-job. Big retail giants usually train newcomers. This is likely to create more jobs in tier two cities, where people sometimes cannot afford higher education.

Also, one does not need to have a smart personality, but if one has the right attitude, s/he will go a long way. If one wants to pursue a degree course and has no clear direction, one must opt for a broad-based MBA programme and later choose a degree related to one’s area of work and specialise in it.

However, there is a flip side to the FDI story. For instance, the small stores will be impacted. Als,in developed countries, historically, the retail sector has finally not been able to create jobs and may not be a good option in the long term. When you go to these international chains abroad, for example, you hardly see assistants. While the malls are now aiming to create jobs, 
in the long run, there may not be any requirement for this, with both market and consumer awareness evolving. 
 In Focus
B-schools are focusing on this sector and big retailers are collaborating with them and setting up retail academies. Courses in retail trade and management encompass an understanding of the necessities and competencies required in the sector. They focus on various sector-specific issues such as location, assortment, positioning of the store, in-store management, logistics, distribution, supply chain management, customer service, retention, etc. These institutes also help students in acquiring experience in the industry and enhance their placement opportunities.

Managing a retail operation is a complex and challenging job. Hence, customer-focus, differentiation, innovation and brand management are buzzwords. A retail professional plays a multifarious role — that of an economist, a fashion expert, IT manager, financial analyst, HR manager and a real estate manager apart from being a competent marketing person. No other occupation, perhaps, offers such a wide array of opportunities and challenges as retail does. Both financially and personally rewarding, it is the second largest employer after agriculture in India.

Coming to the defence of the government facing stiff opposition over opening multi-brand retail to foreign investment, the Competition Commission of India on Sunday said that entry of big players in the retail market would encourage competition. "This (FDI in multi-brand retail) will promote competition, as we see it prima facie. At least by the stated objective. Let's see how it works. Once they come, their functioning will be clear and then we can see if at all there is a need to step in," CCI chairman Ashok Chawla said.

Notwithstanding the uproar by political parties, Chawla said that there would be no over-vigilance of multi-brand retail. The sector, he said, would be regulated "like any other sector with no special dynamics".
Consultancy firm Nathan India's director Ram Tamara said, "If in the medium and long term consolidation happens in the industry with a few retailers controlling a majority of the market, there could be tendencies for anti-competitive behaviour, either in the form of vertical restraints - where the dominant retailers exercise their market power on their suppliers - or horizontal arrangements such as cartel behavior." He, however, said "This is just a scenario that could emerge and not necessarily what will actually transpire."





source: education times.com