T'gana to soon come out with Retail Trade Policy: Official
The Telangana government will soon come out with a Retail Trade Policy, a senior official said today.
Principal Secretary for IT and Industries Jayesh Ranjan said, "We have already drafted it and sent it to various departments for their remarks and we received it from by and large all departments except for one or two and once that happens it will be shown to Chief Secretary and later to the Chief Minister...that process is on and we are closing it on fast".
According to Ranjan, the government has taken feedback and opinion from the industry.
"The Retail Association of India has also given its feedback," Ranjan said adding the policy is expected to come out in next two months and there will be lots of incentives which will be regulatory in nature.
To a query, Ranjan said, "We have signed a MoU with Walmart. Also, the Metro Cash and Carry, they are very keen to ramp up".
To another query, on incentives given to the Swedish home furnishing major IKEA, which here today opened its 'Hej HOME', a first experiential HOME in India, Ranjan said "So far we have given them three incentives in the form of 100 per cent reimbursement of stamp duty, second is on power tariff discount wherein for five years they will get power at Rs 1 per unit and the third is we are giving them part reimbursement on their training costs." "This is first batch of incentives given and once the retail trade policy comes out some more incentives which will be approved in the policy will be passed on," the official added.
(This article has not been edited by Zeebiz editorial team and is auto-generated from an agency feed.)
Get Latest Business News, Stock Market Updates and Videos; Check your tax outgo through Income Tax Calculator and save money through our Personal Finance coverage. Check Business Breaking News Live on Zee Business Twitter and Facebook. Subscribe on YouTube.