A report by staffing firm TeamLease services predicts that regulatory reforms can lead to creation of 1 crore jobs in the coming three years.

India can create one crore sales jobs in the next three years on the back of regulatory reforms such as consolidation of 44 central labour laws into four labour codes, as per a report by staffing firm TeamLease Services.

Besides the central labour laws, other reforms which can boost job creation are unique enterprise number (UEN), employee salary choice, PPC compliance portal, the Factories Amendment Bill 2016, and the Small Factories Act among others.

Rituparna Chakraborty, Executive Vice-President and Co-founder, Teamlease Services stated, “By just doing 10 regulatory reforms we can create 10 millions (1 crore) sales jobs in the next three years and this is an opportunity India, which is at a critical demographic crossroad, simply can't lose out on.”

She added that urbanization, rising middle class, a free-spending younger generation, as well as the government's initiatives around GST will further boost the economy.

Meanwhile, the report further revealed that the city of Mumbai in itself can create around 360,000 sales jobs in the next three years. Being the financial capital of the country and the hotbed of growth, most of these jobs will be created in the retail and banking, financial services and insurance (BFSI) sector.

However, even without reforms, Mumbai is expected to create at least 90,000 new sales jobs in the next three years and witness 15 per cent growth in sales domain, as per the report.

The city currently employs 335,000 sales professionals across sectors, amounting to 22% of the overall 1.5 million sales profiles in the country. As per Chakraborty, about 10,000 sales jobs are expected to open up in Mumbai in the next six months.