Government sees India’s beauty industry as valuable market with employment potential

By

Isabelle Crossley

Published
Jul 9, 2019

The government’s Skills Development Minister Mahendra Nath Pandey sees India’s beauty and wellness industry as a large potential employment generator and believes it could reach a value of Rs 80,000 crore ($12 billion).

Minister Pandey sees India’s beauty and wellness industry as a key sector for growing India’s economy, he said on Tuesday. Pandey said the industry has a market potential of Rs 80,000 crore and is a vital part of Prime Minister Narendra Modi’s plan to make India one of the largest skilled economies in the world.

“India would need more than 70 lakh skilled manpower in coming months in this sector due to unleashing of economy,” Pandey said in a statement, as reported by ET Bureau. Pandey spoke at the 18th annual convocation ceremony of the VLCC Institute of Beauty and Nutrition on July 9.

“Skilling course is an important tool of women empowerment as the students after training can set up wellness and beauty centres by availing easy loans like Mudra and can also motivate others for such gainful employment opportunities,” said Pandey.

The Minister said that India’s young population holds the key to growing its skilled economy. “India is a young nation and a skilled workforce will be able to cater to not only the market demand within the country but also the global market,” Pandey said.