New Delhi: Retail industry today hailed Modi government's decision to allow shops, malls and cinema halls, among other establishments, to run 24x7 throughout the year.
Anuj Puri, Chairman & Country Head, JLL India, welcomed Cabinet's move to clear Model Shops and Establishments (Regulation of Employment and Conditions of Services) Act 2015 and said that it will revolutionise India’s retail industry and improve ‘ease of doing business’.
"This will allow all public amusement establishments with at least 10 employees – such as restaurants, local markets, shopping malls and movie theatres - to operate 24x7, he said in a press statement.
The statement also noted that this Act will have to be implemented by states. Once they have implemented it, offline retailers operating in those states will stand to benefit hugely as the Act brings them on a level-playing field with online retailers (who operate round the clock). This would also intensify competition between physical and virtual players but benefit consumers and the labour work force.
The retail sector accounts for about 15 percent of the country's GDP and this is expected to increase further with round the clock operations.
