New Delhi, June 25 (IANS) Minister of State (Independent Charge) for Skill Development and Entrepreneurship Jayant Chaudhary on Tuesday said the beauty and wellness sector will provide opportunities to nearly 30 million people by 2030 and contribute to a Rs 500,000-crore industry with huge potential across the Asia Pacific (APAC) region.
At the third induction ceremony organised by Beauty and Wellness Sector Skill Council (B&WSSC), the Minister met and congratulated all the 270 candidates who were recognised under Pradhan Mantri Kaushal Vikas Yojana (PMKVY) 4.0 and various CSR projects of Skill India.
The ceremony recognised people from the LGBTQIA+ community and victims of acid attacks and highlighted the importance of establishing an inclusive, diverse and holistic skills ecosystem.
“It is heartening to note that in the last nine years, B&WSSC has achieved remarkable results by creating 106 jobs with a focus on women empowerment and entrepreneurship,” the Union Minister said.
Under PMKVY, Skill India’s flagship scheme, B&WSSC has trained 489,000 people, of which 134,000 have been certified for prior learning.
Globally recognised as an emerging industry, the beauty and wellness sector is experiencing unprecedented growth.
According to KPMG’s Skills Gap Study 2023, the beauty and wellness sector in India is set to register a robust compound annual growth rate (CAGR) of 18.2% between 2018 and 2022, outperforming the global CAGR of 17.6% during the same period.
The sector is currently expected to grow to around Rs 277 billion by 2025 and reach Rs 5,000 billion by 2030.
– Ian
Scrunchie/PGH
