The state government is expected to roll out its retail policy in the three-day Partnership Summit that will get underway on January 10 in Visakhapatnam.As retail is the sector with maximum employment potential, the government wants it to be the focus area. “But it would be within the framework of the national policy on retail trading,” a senior official in the industries department said.
As multi-brand retailing is a prohibited zone for the foreign investors, the state government’s focus would be on single-brand retailing where foreign investment up to 51 per cent is allowed.
“Though I cannot tell you the contents of the policy, what I can say is that it would be quite friendly to the investors who want to park their money in Andhra Pradesh. The Partnership Summit is a forum through which we would like to show case AP as the best place for investment to investors from India and abroad,” the official informed.
The retail sector is in favour of an eco-system for retailers where they could keep their stores open throughout the year, which calls for amendments in labour regulators.
According to sources, the government is expected to give a serious thought to this since as the sector would be able to employ more number of people.As retailers too would benefit from this since it would increase the volume of sales, it would be a win-win situation for the retailers and the employees.
IdianBureaucracy.com wishes the very best.