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Cosmetic Industry is Booming: Thanks to Young Indians!

Young Indians, having all the resources and time, have developed the good-looking cosmetic industry into one of the fastest booming industries

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The cosmetics market of India is expected to triple by 2025. Wikimedia
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  • Beauty has become a business in the world today, and its booming rapidly in India
  • The $6.5 billion cosmetic industry is expected to grow to reach $20 billion by 2025 making India among the top 5 biggest in the world
  • Fashion consciousness is being further fueled by India’s young demography as well as social media

July 13, 2017: The beauty and cosmetic industries of India are growing at a pace never witnessed before. This isn’t just the tale of big cities but in all parts of the nation.

The young demography of India is expected to continue fuelling the industry making it bigger and bigger. As the reports from RedSeer Consulting firm estimates; the market for cosmetics and mainly hair products, skin creams, deodorants, and more, is expected to triple from present $6.5 billion to $20 billion by 2025.

It also estimates that the compounded annual growth rate will reach 25 percent, which is way above the global average of 4.3 percent. This will make India amongst the top 5 biggest markets for cosmetics in the world.

As Shubham Anand (head of retail and consumer practice at RedSeer) points out, “this booming growth has a lot to do with India’s younger demographic. These Indians want to look good all the time.”

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Social media has also played an important role. Additionally, online retailers such as Flipkart, Nykaa, and Amazon are making products accessible. Online cosmetics sale is at $50 million.

The report also mentioned that the boom is certainly an attractive business expansion for luxury brands like Labiocos, Victoria’s Secret and others.

– by Saksham Narula of NewsGram. Twitter: @Saksham2394

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Facebook Joins Skill India Mission to Train Empower Youth

In 2017, Facebook launched Digital Training Hub which aims to train 500,000 youth and entrepreneurs by 2020

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Under the Skill India Mission, nearly one crore youth in the country are being annually skilled, reskilled and upskilled through various central government programmes. (IANS)

Social media giant Facebook on Tuesday entered into a strategic partnership with the National Skill Development Corporation (NSDC) to empower youth and entrepreneurs with digital skills in India.

The partnership, signed in Bhubaneswar, Odisha, will enable Ministry of Skill Development and Entrepreneurship (MSDE) to incorporate Facebook’s training on Digital Marketing Skills in its courses, besides providing trainees with access to local, domestic and international markets.

The programme includes courses on Digital Marketing, Online Safety and Financial Literacy in regional languages with Facebook imparting training to people nominated by the NSDC. This will up-skill job seekers and increase their prospects of employment.

“We are delighted to partner with the National Skill Development Corporation to help in upskilling the youth of the country and also empower local businesses by providing training and resources to build up a digital presence and grow their businesses beyond what the traditional offline economies offer,” Ankhi Das, Public Policy Director, India, South and Central Asia – Facebook, said in a statement.

“This skilled workforce and successful businesses are imperative for boosting employment and economic growth in the country,” she added.

The collaboration will also enable trainees to have access to Facebook’s Jobs tool to easily search for job openings. They can easily search for jobs in their Facebook app or visit www.facebook.com/jobs through their mobile phones while controlling the sharing of information with prospective employers.

Facebook mobile app
Facebook mobile app. Pixabay

“The partnership with Facebook aims to leverage the digital opportunity which can assist in creating a market place for many businesses and service offerings for candidates getting trained under our skill ecosystem and; also act as an information kiosk for knowledge sharing,” said Dharmendra Pradhan, Union Minister for Skill Development and Entrepreneurship.

“With Facebook’s expertise and support, we are taking a step towards utilising the immense potential of digital skills for the economic betterment of the country,” he said.

Under the Skill India Mission, nearly one crore youth in the country are being annually skilled, reskilled and upskilled through various central government programmes.

Also Read: Facebook Fails to Stop Users from Sharing Pirated Movies

Facebook’s previous training programmes on Digital Marketing Skills have upskilled more than 200,000 youth and entrepreneurs under the #BoostYourBusiness programme across 16 states in the country.

Under the network giant’s #SheMeansBusiness programme, another 30,000 women entrepreneurs are currently being trained, the company said.

In 2017, Facebook launched Digital Training Hub which aims to train 500,000 youth and entrepreneurs by 2020. (IANS)

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