Low consumption demand, further triggered due to pandemic, leading to reduction in investments Frequent and sudden tariff & non-tariff barriers leading to supply chain disruptions, increasing costs and thus reducing demand Inadequate physical, digital infrastructure affecting efficiencies in supply chain management
Industry ask A National Retail Policy seeking alignment between sectoral policies and regulations
Retail sector is governed by multiple laws and regulations, including economic and product specific regulations like FSSA, legal metrology, Drugs and cosmetics etc. Further, there are disparities in interpretation and implementation at all levels of the government. Thus, the proposed National Retail Policy needs to focus on the aspect of harmonising the regulations impacting the sector, facilitating ease of doing business.
New Delhi: Ahead of the upcoming union Budget, retailers' body RAI on Friday urged the government for formulation and implementation of national retail policy and let retailers to register under MSMEs to get benefits, saying the industry needs support after almost being squashed during the coronavirus pandemic.
National Retail Policy: Allow retailers to be registered as MSME, RAI asks Centre
RAI in its pre-budget representation mentioned that Centre needs to put some efforts to boost the retail industry to save millions of jobs in the upcoming budget.
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The Retailers Association of India (RAI) requested the Union government on January 15 to accelerate the formulation of the National Retail Policy. Apart from this, the retail industry body also urged the Centre to allow retailers to be registered as micro, small and medium enterprises (MSME) to avail benefits.
RAI, in its pre-budget representation, has mentioned that the Centre needs to put some efforts to boost the retail industry to save millions of jobs in the upcoming budget.