Confederation of Indian Industry (CII), a non-government, not-for-profit, industry-led and industry-managed organisation, has suggested something which may turn fortune for the retail industry. The CII has recommended the Government to consider 100 percent foreign direct investment (FDI) in multi-brand retail trade and further improve ease of doing business for the sector.
The suggestion was made in the National Retail Policy, which was mutually prepared by CII and AT Kearney, an American global management consulting firm. The report added that the Government must assume a single unified national retail policy, to address all the concern areas in the retail industry.
Additionally, the policy has suggested intensification of labour laws, greater participation of women in the workforce, etc.
Dedicated retail special economic zones were also suggested. The Government must encourage modernisation of traditional retail by subsidising these retailers to adopt technology, it added.