The Karnataka government has announced a new retail trade policy to attract fresh investments into the state.
The Karnataka Retail Trade Policy 2016, aims at attracting new investments including FDI and creating additional employment opportunities exclusively in retail sector.
“The new policy will also focus on simplification of labour laws and processes and skill development support,'' law minister T B Jayachandran told reporters.
The new policy will ensure ease of business for retailers through a single-window system, online registration for permissions, relaxing labour rules regarding working hours and shifts.
It would also relax the stocking limits for essential commodities prescribed under Essential Commodities Act, 1955 and allow retail stores to stock essential commodities, he added.
According to sources, the new policy would allow the retail sector to operate 365 days a year from 5 am to 11 pm and allow recruitment of women staff to work under night shifts on certain conditions.
Running a retail business will be made easier by simplifying procedures such as renewal of licenses and introducing self-certification scheme. Necessary amendments would be made to the Shops and Commercial Establishments Act. (SH)
Fibre2Fashion News Desk – India