Home Business Coronavirus threatens retail jobs  

Coronavirus threatens retail jobs  

Coronavirus threatens retail jobs  

The coronavirus pandemic amid an economic slowdown has hit revenue at Indian retailers selling non-essential items like clothes and jewellery by 75% so far and is likely to cause widespread job losses, an industry body said.
About 40% of the six million employees working in India’s modern, rather than traditional, retail sector could likely lose their jobs in the next four months if the government does not intervene, said Kumar Rajagopalan, chief executive, Retailers Association of India (RAI).
“Unless the government provides some relief, revenues will slide by 90% in the next six months”, he added.
The RAI represents 500,000 stores in India, including brands like Shopper’s Stop, V-Mart, Future Group and Avenue Supermarts, which operates the grocery chain D-Mart.




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