With a view to further accelerating investment flow to underdeveloped regions in the state and upholding the state’s leadership position in retail trade in the country, the state Cabinet has principal
With a view to further accelerating investment flow to underdeveloped regions in the state and upholding the state’s leadership position in retail trade in the country, the state Cabinet has principally approved retail trade policy on Tuesday.
According to the new policy, the provision of stocking limits under the Essential Commodities Act will be relaxed and players will be exempt from Agriculture Produce Marketing Committee (APMC) regulations so that farmers can sell their produce directly to retailers. Retailers will not have to pay any cess to APMC. Industries minister Subhash Desai introduced the retail trade policy.
Mr Desai, in his 14 months in office, has reduced the number of licenses to start new industry from 75 to 25, brought ITES policy, and now his trade policy has been principally approved by the Cabinet.
According to the policy, retail enterprises will be allowed to stay open every day of the year but with a rider that employees be granted compulsory weekly offs on a preferential basis. Retail enterprises in all goods and commodities will be allowed to function between 5 am and 11 pm. For logistics and supply purposes, they can operate between 11 pm and 5 am.
Retail development will be allowed higher ground coverage, up to 70 per cent, subject to setback and fire safety regulations and floor space index (FSI) norms. The floor-to-floor height will be raised to 5.5 metres and additional parking space will be allowed without FSI implication.
An official from the industries department said that up to 50 per cent additional FSI for development of retail and shopping centre would be admissible over the base FSI, subject to payment of full applicable premium according to the prevailing ready reckoner rates. “This would enhance viability and quality of development of retail centres. It will give relief to retailers and the sector will get a boost through this policy,” he said. The policy will be applicable to new retail business and it will be valid for five years, he added.
