Odisha govt to formulate trade policy soon
Samabalpur, Oct 21 (KNN) Since the retail business in Odisha has picked up pace, the state government is all set to formulate a retail trade policy which will facilitate a favourable environment to the traders.
The policy will also take care of Ease of Doing Business (EODB), access to credit, adoption of technology, simplification of acts and rules, welfare of traders and creation of organised retail market infrastructure, etc.
Since, the players like Future Group, Reliance Trade, Food Court, NEXUS and several others are making inroads, major players in the retail trade have already made inroads to the State.
Esplanade One, DN Regalia and Utkal Gallaria to name a few have opened mega malls in Bhubaneswar. Such malls are also coming up in Cuttack, Sambalpur, Rourkela, Brahmapur and other towns.
While shops and business establishments are registered under the Labor and ESI Department, the Micro Small and Medium Enterprises (MSME) Department looks after the listing of the Micro and Small Business and Tax Collection is on the shoulders of Commercial Tax Commissioner (CCT).
Apart from some big players, there are hundreds of small shop owners doing retail trade while large number of street hawkers are also engaged in retail business.
The State Government will have to take a holistic approach towards the retail trade in the State, while formulating the policy, said a senior officer in Department of MSME as the Retail traders are facing GST problems and there is hardly anyone to guide them.
With Union Government in Department of Promotion of Industry and Internal Trade (DPIIT) is looking after retail trade while the State Government is also making serious efforts to ensure a conducive environment for retail trade.
The policy will provide a framework for the growing retail market in the State and it will also help traders and employees for the welfare of social benefits.