CII National Committee on Retail Chairman Shashwat Goenka has said that a cohesive national retail policy would go a long way in reviving the sector and help generate up to 30 lakh additional jobs in the country by 2024, He said a thorough national retail policy would help the sector bounce back and grow exponentially in the years to come.
Goenka has noted that as per industry estimates, around 5 crore people are employed in the organised retail sector in India. He also said moving forward as the industry revives from its slump, new and emerging models need to be deliberated in order to accelerate the recovery process. He stated that the industry is still hampered by the loss in the demand therefore proactive steps need to be taken in order to revive consumer confidence as well.
To address these challenges and bottlenecks faced by the sector across formats, he believed that the government should come up with a cohesive model retail policy. He also said today more than ever it is imperative to create a necessary environment for conducive growth with the national retail policy. He added that by implementing a cohesive retail policy the government can fuel the sector's growth which can generate up to 30 lakh additional jobs by 2024, apart from creating indirect job opportunities in allied sectors.