eRetail industry to generate 2.5 lakh jobs in 2016

Majority of e-commerce departments and businesses have increased their turnover since last year and present a good opportunity for the industry to develop further, says the Assocham report.
Assocham

As per a recent report by Assocham, the eCommerce industry is likely to generate 2.5 lakh jobs in online retail and the hiring is expected to grow by 60-65 percent.

Majority of e-commerce departments and businesses have increased their turnover since last year and present a good opportunity for the industry to develop further, says the Assocham report.

India's e-commerce market was worth about USD 3.8 billion in 2009, it went up to USD 17 billion in 2014 and to USD 23 billion next year. It is expected to touch USD 38 billion mark by 2016, it said.

"E-commerce industry is likely to generate nearly 2.5 lakhs jobs in the online retail in 2016 including temporary employees, supply chain, logistics, ancillary units etc," it said.

Currently more than 3 lakh people work in eCommerce space and the increasing smartphone penetration and huge retail investments will further fuel the rapid growth of mobile commerce in the country.

Though mCommerce is mere 20-25 percent of the overall eCommerce business in India, but this figure is likely to splurge as businesses including those operation O2O (online to offline) space such as taxis and restaurants will act as the major catalyst to seize greater market share.

Commenting on the report, D S Rawat, Secretary General, Assocham, “The hiring activities are expected to grow by over 60-65 per cent in this sector and may help create between 5-8 lakh employment opportunities in two to three years.”

The chamber said m-commerce is growing rapidly as a stable and secure supplement to the e-commerce industry.

As per the report, one-third of MBA students from top business schools, including the IIMs, prefer working for the fledgling e-commerce sector, over traditional favourites like consulting and financial services jobs.

“India is successful in becoming the largest e-commerce market in the world. The rapid transformation in logistics, innovation, consumerism and productivity prove to be an interesting case study for other emerging economies,” Rawat said.

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