The new cabinet law to open 24X7 is a ‘win-win’ situation for retailers
30th June 2016Category : Featured storiesPublished by :Rahul Verma Reading Time : 4 Minute News Sourced : India
The latest decision by
government to operate retail outlets, malls and complexes round the clock
received overwhelming response of retailers.
The Model Shops and
Establishment (Regulation of tablishment (Regulation of Employment and
Condition of Services) Bill 2016, proposed by the labour ministry, will not
require Parliament's approval and can be adopted by states in totality or
modified as per their requirements. This means the bill is only an advisory and
its implementation depends on states.
definitely help in improving efficiency and a new level of retail can open up.
I will call it the end of permission raj," Shoppers Stop Managing Director
and Customer Care Associate, Govind Shrikhande, as told PTI.
He said the policy
will bring clarity in regulations across India and will also take away hassles
of seeking permissions.
views, Walmart India president and CEO Krish Iyer said, "It is a welcome
step and we hope all the state will adopt it.”
available to retailers to open their establishment 24x7, not only will it add
thousands of skilled jobs but will also make the retail markets across the
country more vibrant, giving customers flexibility and convenience to shop
anytime, he added.
Iyer further said 24x7
policy for retail stores in other developed economies has given significant
boost to their growth in the past. A vibrant retail environment is critical to
the economic growth.
of India CEO, Kumar Rajagopalan said this step is a win-win for everyone,
including businesses, consumers and government.
clearing Model Shops and Establishment Bill, a model has been created which
will have to be adopted by states. Some states like Maharashtra and Andhra
Pradesh have already adopted retail policy. This will benefit not just
businesses but also consumers and government in the form of taxes and higher
employment. Retailers will experiment for sure," he said.
Rajagopalan, Lacoste India Managing Director and CEO Rajesh Jain said it is a
good step from the Centre.
"For us, we don't
keep all our stores open for 24 hours, but we look at strategic locations.
Extended hours will definitely help. This move will be very good, particularly
for food and beverage industry," he said.
When asked if Shoppers
Stop would look at opening stores round-the-clock, Shrikhande said: "We
would do cost benefit analysis to see whether it is feasible to keep stores
open round-the-clock, one can look at opening stores at few catchment areas or
extend working hours."
More, the proposed
change in work conditions for women is intended to end "protective
discrimination", quoted by FM Arun Jaitley, will receive employment
opportunities for women employees.