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Updated: September 28, 2022 11:45 p.m. STI
New Delhi [India]Sep 28 (ANI): The Delhi government has sent five-point suggestions to the central government’s Department of Promotion of Industry and Internal Trade (DPIIT) on national retail policy to create a business environment. conducive to retailing in India by simplifying laws and introducing innovative business practices.
According to a press release issued on Wednesday, the Delhi government has sent five-point recommendations to the DPIIT on national retail policy,
Speaking about the GoI’s National Retail Policy, Deputy Chief Minister Manish Sisodia, who is also Delhi’s Finance Minister, said, “Currently, retailers in India are fighting for a national policy that can help them with a framework to carry out their activities. in an organized way and by mobilizing the sector.
At the Delhi level, the government under the leadership of CM Arvind Kejriwal has introduced various initiatives for the retail sector to promote ease of doing business and retailing.”
Sisodia said the post-pandemic era has seen a sea change in consumer behavior, which has led to many strategic shifts in the retail industry. The National Retail Policy has a great potential to streamline this industry if changed according to current industry requirements. This policy can be an accelerator of India’s economic growth.
He said, “The Delhi government’s recommendations on this policy focus on the holistic development of the retail sector in India. If taken into account, it will encourage more traders to set up their business freely and contribute to the economy of the country. Some of these recommendations have already been successful in Delhi.”
These initiatives include the one-stop-shop system for businesses, creating more trade lanes through a month-long Delhi shopping festival, Dilli Bazaar – an e-commerce platform for Delhi businesses to showcase Delhi’s unique markets on a virtual platform and enhance their global presence, redevelopment of Delhi’s iconic retail markets and food hubs to generate more jobs and business opportunities.
The DPIIT proposed to formulate a national retail policy to promote the growth of domestic trade. This policy will streamline retailing and promote ease of doing business in the retail sector. Its main objective is to identify and address existing infrastructure gaps affecting the retail industry as well as the promotion of e-commerce throughout the country, leveraging retail for socio-economic development. economy of the country and accelerating the flow of investment to underdeveloped regions across the country.
The Delhi government has suggested the central government to introduce a unique identification system for traders to simplify the registration process. This will reduce the burden of paperwork imposed on traders required for business registration. In response to the inspection reforms enshrined in the national trade policy, the Delhi government has suggested to the central government to create and adopt a strict monitoring and evaluation framework within the Central Inspection System (CIS).
An entrepreneur needs several licenses and registrations to operate his business, such as business license, business license, weights and measures verification certificate, and drug license, among others. Streamlining various laws and reducing the burden of compliance will make retail businesses easier and help owners focus on growing their businesses. Along with this, the Delhi government has recommended that in order to help traders conduct their business at ease, the central government should also consider increasing the validity of business licenses and registrations to at least five years.
The Delhi government has suggested to the central government’s DPIIT to encourage the National Career Service Portal and Employment Exchange portals to integrate into the one-stop-shop system.
In addition to streamlining the requirement for new licenses or registrations and renewals under various laws, the regulatory process for closing a business should also be introduced to enable a hassle-free business closure. Currently, business owners are required to follow a long list of different steps to close a business. (ANI)
