Home Retail ASSOCHAM asks UP chief minister to order reopening of Reliance Retail

    ASSOCHAM asks UP chief minister to order reopening of Reliance Retail

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    With reports of planning to wind up operations in Uttar Pradesh, the Associated Chambers of Commerce and Industry of India () Wednesday asked state Chief Minister to revoke order closing the retail stores in Ghaziabad and Noida.

    Assocham urges Govt for relief to SMEs, trade
    The apex body said the Non-Banking Finance Companies (NBFCs) should also be allowed to accept old notes till December 31

    The state government ordered closure of Reliance outlets following attacks on these, while other retail chains like Spencers and were unaffected.

    ASSOCHAM asked not to act in haste to exit from UP as it will have wider repercussions, adversely hitting interests of consumers and farmers.

    The company had planned to open 200 stores in the state over the next three years.

    The statement by ASSOCHAM comes in the wake of reports that Reliance Retail was planning to wind up operations in the state, though no company official was prepared to make any comment in this regard.

    An ASSOCHAM spokesman said UP government should withdraw its earlier order closing down Reliance-owned retail stores; otherwise, the decision will be interpreted as a clear case of selective victimisation and will also have impact on future investment inflows.

    It was also stated that no political colouring should be given to the entire issue, though industry sources said Reliance was probably being targeted by the anti-organised retail lobby as it had the most high-profile rollout and had announced that it would be directly sourcing from the farmers, thereby doing away with middlemen.