Tamil Nadu Considers Separate Retail Policy: MSME Minister

Chennai, Aug 29 (KNN) The Tamil Nadu government is exploring the possibility of implementing a separate policy for the retail sector, according to T.M. Anbarasan, the state's Minister for Micro, Small and Medium Enterprises (MSME).

This announcement was made during the inauguration of the 'Chennai Retail Summit 2024', organised by the Retailers Association of India (RAI).

Minister Anbarasan stated that the request for a retail policy, similar to those in other states, would be presented to Chief Minister M.K. Stalin upon his return from an international trip.

The minister emphasised the retail industry's significant contribution to economic growth and job creation, particularly for women, and pledged the government's support to the sector.

The state government has been actively promoting entrepreneurship through five self-employment schemes, including the Annal Ambedkar Business Champions Scheme and the New Entrepreneur-cum-Enterprise Development Scheme.

Over the past three years, these initiatives have reportedly resulted in the creation of 30,000 new entrepreneurs and approximately 300,000 job opportunities.

Kumar Rajagopalan, Chief Executive Officer, RAI, highlighted Chennai's importance as an early adopter of the chain store model in India.

He noted that retailers in the region have successfully adapted to modern retail practices while maintaining their cultural identity.

The Chennai Retail Summit, themed ‘Changing World of Retail,’ provided a platform for industry executives and service providers to discuss emerging trends and strategies in the evolving retail landscape.

This development signals the Tamil Nadu government's recognition of the retail sector's importance and its potential impact on the state's economy and employment opportunities.

(KNN Bureau)