Indian Economy News

Beauty & Wellness business in India has potential to reach Rs 80,000 crore

  • IBEF
  • July 10, 2019

Beauty and wellness business in India have a market potential of Rs 80,000 crore (US$ 11.12 billion) and can provide employment opportunities to lakhs of individuals.

"Skilling course is a significant tool of women empowerment as the students after preparing can set up wellness and beauty focuses by availing easy loans like Mudra and can also persuade others for such productive business opportunities" said by skills development minister Mahendra Nath Pandey.

Over 62 per cent of India's population is youthful and as per prime minister's vision to make India as one of the biggest skilled economy in the world.

The ministry of skilled development and entrepreneurship (MSDE) is actualizing a flagship the Pradhan Mantri Kaushal Vikas Yojana (PMKVY 2.0) 2016-2020 on pan-India basis with a goal to give skilling to one crore people under short term training (STT), acknowledgment recognition of prior learning (RPL) and special projects (SP) across the nation over with a cost of Rs. 12,000 crores (US$ 1.67 billion). As on June 12, 2019, around 52.12 lakh candidates have been prepared under the scheme in the country.

Disclaimer: This information has been collected through secondary research and IBEF is not responsible for any errors in the same.