Tuesday, September 9, 2014

Industry status for Retail in India might now be considered

In June  2014 I had penned “A Retailer’s wish list to Shri Modi” which was published in ET Retail. Within a span of 100 days I got an update about one of the points highlighted in the wish list.

The Deputy Secretary of the Ministry of Consumer affairs, Food and Public Distribution has written to The Secretary, Department of Industrial Policy and Promotion requesting that the proposal of according industry status to retail be discussed and further necessary action to be taken if found to be suitable.

Retail, Indian Retail, Retail FDI, Retail Industry, Retail Sector

This letter was copied to The Hon'ble Prime Minister of India and myself.

The key highlights of why industry status would be of great help is as follows –
  • Would help classify Retail and define different guidelines for the various segments.
  • Streamline the licensing and other regulatory systems into a single window.
  • Help to enable national platforms like a national registry of products which will make the introduction of computerized billing easier.
  • Enable skill and vocational training and employment generation
  • Ease of financing as guidelines which are specific to Retail can be notified.
Plus, there are many more game changing implications. I do hope that this Retailer's wish comes true.

I am very impressed and needless to say thrilled to have received this letter copy. Kudos to the Prime Minister and his team for reading and responding to this Retailer.


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