New Delhi, Sept 26 (UNI) Retailers require as many as 30 clearances to set up shop in India, a senior government official today said.
Accepting the need for a single window system to permit retailers to set up their businesses, Consumer Affairs Departement Additional secretary Rakesh Kacker revealed that currently as many as 30 clearances are required to set up retail trade in the country.
On the industry demand for a regulatory mechanism to facilitate retail trade in India, Mr Kacker said it is being debated whether it could be done within the existing legislative framework or a new statute is required.
While remaining non-committal on the issue, the official, however, emphasised the need for a single window system to permit retailers to set up their shops.
Speaking at an international retail summit organised by Assocham, Mr Kacker said the decision for allowing foreign direct investment (FDI) in multi-product retail as also the single window system for giving clearances to retail sector will be taken at an appropriate time.
FDI is not allowed beyond 26 per cent in multiple retail products.
A joint study done by Assocham and KPMG strongly advocate a single window clearance system to give a boost to organised retail in the country.
Agreeing with the study which he released today, Mr Kacker hoped the proposed single window system would not create another pocket for retail facilitation.
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