Budget 2019: 'Create new jobs in beauty space'

Shahnaz Husain, CEO, Shahnaz Husain Group

As far as the beauty business is concerned, we have high hopes and expectations from the upcoming full and final budget to be released on July 5, 2019. The government’s emphasis on ‘Make in India’ has been very encouraging for the industry, especially for entrepreneurs who use indigenous raw materials in their products.

Moreover, skill development in this space will nurture the talents of freshers while creating new jobs for them. It will also give more opportunities to skilled workers and beauticians who can help the new candidates excel in their respective domains.

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Further, the government’s idea of ‘Minimum Government and Maximum Governance’ is laudable, and has the potential to develop an entrepreneur-friendly environment in India. This can be a great way to quash the age-long dependence of people on government jobs and encourage them to establish their own ventures within the beauty and wellness landscape. This can effectively solve the ongoing unemployment crisis in the country.

We are also expecting offerings such as collateral-free credit for entrepreneurs, with a guarantee of a higher percentage for female entrepreneurs. This will encourage more women to take part in the beauty entrepreneurship ecosystem, and of course, cater to woman empowerment.

Most importantly, the government should address challenges related to the fake products that are being sold in the market under the name of noted brands. Increased consumption of such products can have serious consequences in terms of skin and hair damage and thus poses a great risk to customers. It is, therefore, vital to spread awareness about the inflow and purchase of counterfeit beauty products across authorized distributors and outlets in India.

Shahnaz Husain is the CEO of the Shahnaz Husain Group.