Retailers association requests Centre to accelerate formulation of national retail policy

KOLKATA: India’s top retailers have requested the government to accelerate the formulation and implementation of the national retail policy to boost the sector and facilitate ease of doing business for the up-coming budget.

In a media release, the apex retail industry body Retailers Association of India (RAI) said it has proposed that retailers should be allowed to be registered as micro, small, medium enterprises (MSME) so that they too can be entitled for all benefits available to MSMEs. It has also pushed that states should adopt model shops and establishment Act.

RAI has further suggested decriminalization of legal metrology to improve ease of doing business and extend Pradhan Mantri MUDRA Yojana Scheme to include financial support for digitalization of small retailers.

Kumar Rajagopalan, CEO at RAI, said the retail industry was almost squashed during the pandemic but is now slowly getting back on its knees with the opening up of the economy.

“To get this crawling industry back to its feet and start running, we believe that the budget should address two main things that will bring in ease of doing business for retailers: freedom from various procedural strangleholds and access to funds necessary for growth,” he said.

RAI said the recovery will need unconventional solutions and government support. At this juncture, all efforts are required to boost the local economy and help revive retail, saving millions of jobs. Budget 2021-22 will play a key role in this, it said. The body has also made direct and indirect taxes recommendations.