Posted: By Shiv Bhatia
“Retail sales have again picked up and we are more or less back to the same level as we were before the global crisis broke out,” said Kishore Biyani, Founder and CEO of Future group.
Accordingly, Pantaloon Retail (Future group’s retail arm), which operates several multi-format, multi-product, retail chains in value, lifestyle, and home retail segments, across the country and provides direct employment to 40,000 persons, after a short blip, has begun hiring new employees for retail chains.
Retail sector, one of the biggest job creators in any economy, according to Biyani, is a key growth driver for the country’s economy. The sector offers great potential for creation of jobs everywhere. India’s retail sector, like other global economies, too has great potential for creation of jobs.
According to Biyani, increase in urban consumption leads to rural prosperity as well. According to a study conducted by his group, every Rs 100 worth of urban consumption results in channeling of Rs 39 to rural areas.
Biyani was participating in meeting of top industry leaders convened on Tuesday by India’s Finance Minister Pranab Mukherjee. The meeting was called to chart out a road map for reforms and sustainable economic growth.
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