Home / Knowledge / News / Apparel/Garments / CAIT bats for retail regulatory body
CAIT bats for retail regulatory body
29
Jan '16
The Confederation of All India Traders (CAIT) has urged the Union Government to constitute a Retail Development & Regulatory Authority to boost structured growth of the country's retail trade which, it says, is suffering from various onslaughts within various verticals of retail trade.

"The Indian retail trade is the world's largest disaggregated private business ecosystem consisting of 57 million non corporate, self organised business enterprises in terms of brick and mortar shops.. Beside it has several other verticals like corporate retail, e-commerce, direct selling, wholesale cash & carry stores run by MNCs and others and in absence of any regulative mechanism one vertical is encroaching upon the domain of other vertical leading to state of confrontation. Taking into consideration vast potential of this sector, a Retail Development & Regulatory Authority is need of the hour," the CAIT said in a press release.

According to CAIT National President BC Bhartia and Secretary General Praveen Khandelwal, retail trade in India is often treated as an 'orphan child' with neither a policy nor a separate Ministry whereas other sectors of economy have specified policies and respective ministries at the Central level. Despite contributing 45 per cent to national GDP and being a major employment driver compared to other sectors, retail trade has not been even supported by credit from formal sources and operates outside the formal system.

No Government has ever taken retail sector on its priority. It is for the first time when Prime Minister Mr. Narendra Modi launched MUDRA yojna for financial inclusion of small businesses in India, they said.

The retail trade needs not only policy and financial inclusion but also need to be upgraded and modernised to meet global challenges and a Retail Development & Regulatory Authority can focus on systematic development of retail trade in India. The commercial markets across the country lack basic infrastructure despite doing extensive business and often face multiple problems. The Authority wouldl not only craft policies for development of retail trade but would also regulate the same in a cohesive manner, the release said.

Both Bhartia and Khandelwal said that a Parliamentary Standing Committee headed by senior BJP leader Dr. Murli Manohar Joshi had also recommended formation of Retail Regulatory Authority in its report submitted to Parliament in 2008 but so far no action has been taken on his recommendation. (SH)

Fibre2Fashion News Desk - India


Must ReadView All

Europe fights against microplastic release from textiles

Textiles | On 18th Jan 2018

Europe fights against microplastic release from textiles

The European Commission, the institution of the European Union, has...

Egypt starts building biggest textile city in Al-Sadat

Textiles | On 18th Jan 2018

Egypt starts building biggest textile city in Al-Sadat

Egypt has started construction of the biggest city for textiles and...

Vietnam targets $20 bn from export of footwear, bags

Apparel/Garments | On 18th Jan 2018

Vietnam targets $20 bn from export of footwear, bags

Vietnam targets to earn around $20 billion from the export of...

Interviews View All

Awen Delaval
Samatoa

'Natural fibres are appreciated for traditional authenticity'

Poojaa Kumar Deepak
Zeven

Zeven's performance sports apparel is designed for the Indian body type,...

Saket Garg
Garg Corporation

The biggest challenge is lack of skilled workforce and competition from...

Erik Sy

Manila-based CustomThread is a start-up offering premium custom apparel...

Nitesh Mittal

Kusumgar Corporates is a leading manufacturer of technical textiles and...

Harsh Shah

Established in 1956 with a small beginning, Embee today manufactures a...

Kai Poehler
Voith Paper GmbH & Co. KG

The glass mat industry is growing by five to eight per cent annually. Kai...

Marten Alkhagen
Swerea IVF AB

Marten Alkhagen, Senior Scientist - Nonwoven and Technical Textiles of...

Marcel Alberts
Eurofibers

Coating at a fibre level is a practice not usually seen in the...

Robert Brunner
Devereux

Golfwear and menswear brand Devereux is set for greener pastures. Robert...

Akta Adani
India Boulevard

India Boulevard is a San Francisco-based curated fashion marketplace that...

Yash P. Kotak
Bombay Hemp Company

One of the directors of Bombay Hemp Company, Yash P. Kotak, speaks to...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH

January 2018

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

news category


Related Categories:

Planning to Take the Leap towards
Sustainability?

Do you see sustainability as a route to business growth?

Yes No

Do you think the sustainability space has the needed tools and resources available for a business to lead change?

Yes No

Active Poll

Do you see sustainability as a route to business growth?

Yes
69.1%
No
13.4%
Skip
17.5%

Total Votes: 97

Do you think adopting a sustainable approach will be a profitable move for your business?

Yes No

Active Poll

Do you think the sustainability space has the needed tools and resources available for a business to lead change?

Yes
63.9%
No
28.9%
Skip
7.2%

Total Votes: 97

Do you want the world to know about your sustainability journey and your business’ environmental footprint?

Yes No

Active Poll

Do you think adopting a sustainable approach will be a profitable move for your business?

Yes
87.6%
No
9.3%
Skip
3.1%

Total Votes: 97

Thanks for your valuable feedback. Claim your free latest sustainability e-book.

Active Poll

Do you want the world to know about your sustainability journey and your business’ environmental footprint?

Yes
82.5%
No
8.2%
Skip
9.3%

Total Votes: 97


E-News Insight
Subscribe Today and Get the
Latest News Update in Your Mail Box.
Advanced Search