Government to seek public input on national retail policy soon


New Delhi: A National Retail Policy which covers several areas such as ease of doing business, streamlining retail compliances under one umbrella is in preparation and will soon be shared for public consultation, said a senior government official.

Speaking at the Retailers Association of India (RAI) Retail India Summit & Expo (RISE) 2021 event on Wednesday, Anil Agarwal, Additional Secretary, DPIIT, Ministry of Commerce, said the Center has created many policies models to guide state governments and a model framework is being created to facilitate interstate commerce, it is important to have a national retail policy. This will soon be shared for public comment, he said.

“In the policy, we will address several areas such as making it easier to do business by simplifying licensing and related processes. The proposed policy will also look at how retail compliances can be streamlined under one framework law. The inclusion of retail and wholesale in MSMEs has been a huge win for the sector as it has opened doors for lending from banks under priority sector programs However, the retail policy will address the looking for unconventional ways for the sector to also get cheaper financing options,” he added.

Work on the policy has been underway for some time.

Retailers have fought for a national retail policy that will help shape a cadre and mobilize the sector, 80-85% of which is still largely unorganized. The sector employs 50 million people. Retail in India is governed by numerous laws including the Shops and Establishments Act, Competition Act, Consumer Protection Act, Essential Commodities Act and Legal Metrology Act , he pointed out.

In many cases, retailers need to obtain 16 to 25 licenses to open a store. The sheer number of laws, compounded by variations in state-level implementation, creates immense complexity for retailers, especially those with a pan-Indian footprint, according to a 2020 report by industry body CII and the consulting firm Kearney.

Agarwal said the government has been working to reduce the cost of logistics and movement of goods which will continue to improve. “Particular emphasis will be placed on the development of entertainment areas and on short-term specialist skills development courses in vernacular languages ​​to address the shortage of skilled labor in the retail trade,” he said. he declared.

To subscribe to Mint Bulletins

* Enter a valid email address

* Thank you for subscribing to our newsletter.

Never miss a story! Stay connected and informed with Mint. Download our app now!!


About Author

Comments are closed.