Beauty and Wellness Sector of India Holds Business Potential of INR 80,000 Crore, Says Skills Development Minister
In the 2nd decade of the 21st century, India is facing a significant problem of unemployment. To resolve this problem, the government is trying to put tonnes of efforts of the young generation. Besides the mainstream professions, the skill and training sector is producing several more job opportunities.
There is a vast business potential of INR 80,000 Crore in beauty and business sector. The skill development minister, Mr. Mahendra Nath Pandey said in the recent 18th annual conference of VLLC Institute of beauty and nutrition that the whole industry has an entire total potential of growing up to 800 billion rupees. He also stated that VLCC itself created over 200,000 working populations in the past years.
Now-a-days, where the young generation is getting too much concerned about their looks, there is an excellent potential made in the industry of salon and spa business. Everyone needs good hairs, glowing faces and a refreshed feeling all the time. The demand is so significant that it holds up to 31% of the total beauty and wellness market.
On the contrary, it also helps in empowering the employees. More of the girls and women are showing interest in this sector. They are provided with such benefits as much as possible. Special loans can be granted for the women for opening beauty and wellness centres. There is a system called MUDRA (Micro Unit Development and Refinance Agency), whichhelps people to avail loans. It is setting examples for other people to move forward in this sector. Mentioning some more benefits of this loan system the finance minister Nirmala Sitharaman announced that one woman from any self-employed group could get a loan up to INR 1,00,000 to help the entire group.
Mr. Pandey also said that the talented young generation could not only work to fulfil the demand of the county, but they also have such a great potential that they can easily face the global market demand. The only thing they need is proper training and correct working guidance.
This is not only the case with cosmetics based on artificial chemicals, but also there is a huge scope in the sector of ayurvedic and other natural products. Special mentions like Patanjali group of company is now widely popular in the country as well as in the abroad as people nowadays are too much interested in natural herbal products that allow them to have a better life ahead.
People should not be worried about the future outcomes of their investments as the modern day is carrying a high demand of self-awareness and self-care. So definitely people are showing interest in this beauty and wellness sector for investments as well in order to get services in return.
There are so many fashion designing universities around the whole county so that the interested candidates can prepare themselves for this sector by taking proper training and developing necessary skills. In fact, after getting proper training, they also can recommend people for this sector as well as give training to other interested people as there is a massive shortage in the number of skilled professionals in this industry.
After all, this sector will be one of the most promising sectors to hold the financial backbone of the future Indian economy.
