Telangana’s Retail Trade policy in 2 mths: IT Secretary
Telangana IT Secretary Jayesh Ranjan on Wednesday said that the state will soon come out with a Retail Trade Policy most probably in next two months...
Hyderabad: Telangana IT Secretary Jayesh Ranjan on Wednesday said that the state will soon come out with a Retail Trade Policy most probably in next two months and attractive incentives will be announced as part of the policy. Telangana government has sought suggestions on the policy draft from all the stakeholders in the retail industry.
“The draft policy is in final stage. We have received the feedback from Retail Association of India. We have 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, Chief Secretary will study it and send it to the Chief Minister. We’re closing it on fast.
The policy is expected to come out in next two months and there will be lots of incentives which will be regulatory in nature,” said Jayesh Ranjan after inaugurating Swedish retail major IKEA’s ‘Hej HOME,’ a first experiential HOME in India, here at Forum Mall, Hi-Tech city. With an objective developing retail trade in the State, Telangana government has already signed an MoU with Walmart.
“Metro Cash and Carry will also ramp up its operations in the state. As part of the first set of incentives, Telangana government has given three incentives to IKEA. 100 per cent reimbursement of stamp duty, power tariff discount for five years and the third is partial reimbursement on their training costs,” said Jayesh.