Sunday, May 3, 2009

Single authority should regulate retail sector: Assocham

Indian retail sector should be regulated by a single authority instead of the current practice of multiple authorities, industry body Assocham has said.

A survey by the chamber revealed that over 95 per cent of organised retailers have opposed retail sector being jointly regulated by the ministries of Commerce and Industry, and the Consumer Affairs.

Submitting the survey, Indian Retailing: The Way Forward, to the two ministries and the Planning Commission, Assocham said multiple governance agencies in the sector has caused confusion which needs to be eradicated.

While the Department of Commerce is responsible for making policies for retailing, their implementation is watched under the Consumer Affairs Ministry. This causes distortions and ambiguities in growth of retail, it said.

"Therefore, the retail sector should be governed by a single central authority that not only makes policies but ensures their proper implementation," Assocham Secretary General D S Rawat said.

The survey, in which 150 retailers were questioned, also said that the government should make a comprehensive 'National Retail Policy' under which retailing should be facilitated with only one nodal agency.

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