The emergence of the new online-offline retail model is expected to add 12 million new jobs besides boosting exports to $125 million, says a new Nasscom-Technopak report. The report titled, 'Retail 4.0: India story - Unlocking Value through Online and Offline Collaborations', state the Indian retail sector has successfully navigated the COVID-19 crisis by accelerating digital adoption and shifting to online operations. The market is likely to reach up-to $1.5 trillion by financial year 2030 and add more than 25 million new jobs by financial year 2030, the report said.

Of this, the 'Offline+Online' model will account for 50 per cent of total retail employment addition - almost 12 million, enable $125 billion worth of exports and account for 37 per cent of total retail tax contribution amounting to approximately $8 billion incremental GST contribution by 2030, it added.

The increasing use of data-driven advanced analytics, and prediction technology to tailor customer-centric product/service offerings and digitization of oint-of-sale (PoS), in-store operations, and inventory tracking will create enormous potential in terms of job growth, exports, and an inclusive retail ecosystem with great participation of MSMEs (Micro, Small and Medium Enterprises), Amitabh Kant, CEO, Niti Aayog added.

The government is in process of formulating the National Retail Trade Policy which will not only create a conducive environment for retail trade but also simplify its growth policies, he added. Debjani Ghosh, President, Nasscom said, to enable new retail models to bring incremental economic contribution, job growth, and exports, a greater collaboration among retail stakeholders, policymakers, and supporting sectors for tech-awareness is needed.