The government has decided to allow only the state-owned companies to operate the new retail vends. The four state PSUs will start operating 240 vends
It is to be noted that in May this year, retail sales were up 24% compared to pre-covid levels. Retailers of sports goods and jewellery witnessed a slightly better performance than other categories.
Selling diesel at Rs 20-25/litre loss, petrol at Rs 14-18/litre loss: Private retailers to government
International crude oil has risen sharply to a decade high but state-owned fuel retailers with 90 per cent market, have frozen petrol and diesel prices at rates equivalent to two-third of the cost.
Oil Minister Puri said fuel retailers have knocked on the doors of the government seeking 'relief' but hastened to add that pricing is their decision.
Consumer durables and electronics clocked the highest growth at 45 per cent, followed by furniture and furnishing, and food and grocery at 26 per cent each.
The future of retail is converging of physical and digital, and the government should provide easier access to loans to the small retailers, who lack resources for their modernisation.
The Retailers Association of India hosted the first edition of the Hyderabad Retail Summit on Thursday.
The decline in sales was the steepest in West and North India, which witnessed an 83 per cent dip last month as compared to May 2019, RAI said in a statement.
The relaxation granted to small retailers is on the lines of a similar exception already available for branded products.
Small retailers in Himachal Pradesh on Friday resented the Centre's decision that restricted those dealing with tobacco products not to sell non-tobacco products, calling it "grossly unfair."
A host of retailers, including India’s largest hypermarket chain, Big Bazaar, are offering increased discounts to clear out old stocks ahead of the new tax regime launch.