The government is likely to set up a ‘single window’ system for the numerous clearances required by retail ventures to set up shop in this country.
A long standing demand of the retail industry, presently the issue is being debated and discussed within various departments of the government.
At an ASSOCHAM organised International Retail Summit on Reinventing Retail India, additional secretary, department of consumer affairs, Rakesh Kacker said that there is a need for a ‘single window’ system to permit retailers to set up their shops as currently as many as 30 clearances are required to set up a retail venture.
In the summit, among others who had emphasised the need for a ‘single window’ clearance were Amit Dev, chairman, ASSOCHAM Retail Committee and Navin M Raheja, managing director, Raheja Developers.
Regarding giving approval to FDI in retail, Kacker said that the government will take a decision for allowing FDI in multi-product retail at an appropriate time. At present, India allows 100 per cent FDI in cash-and-carry wholesale trading. However, in single brand retailing, 51 per cent FDI is permitted.
Kacker also disclosed that the government has yet to consider the demand of industry for establishing a regulatory authority to facilitate retailing in India.
