Aimed to catalyse growth, provide thrust to the development of the Retail Sector in the State and generate employment opportunities by way of facilitating investments in the retail parks, the Andhra Pradesh Government recently released the Retail Park Policy 2021-26.
The policy eyes new investments worth Rs. 5,000 crore and create 50,000 additional direct employment opportunities in the retail industry by 2026.
‘The main objectives of the five-year policy are to encourage skill development; create more employment opportunities; and strengthen the existing unorganized retail sector. The policy envisages an organised retail trade being more stable and reliable employment, thereby increasing Gross State Domestic product,’ said Mr R Karikal Valaven, IAS Special Chief Secretary [Industries, Infrastructure & Investments] speaking to Vizag Industrial Scan.
The policy envisages an organised retail trade being more stable and reliable employment, thereby increasing Gross State Domestic product.
— Mr R Karikal Valaven, IAS
Special Chief Secretary,Industries, Infrastructure & Investments
Some of the key highlights of the Policy include Single Desk Portal For Time-Bound Clearance, Rationalisation of Inspections and Local Sourcing.
‘Joint inspections will be carried out by multiple departments inspecting each establishment, thereby leading to a less intimidating and time consuming process. All inspections are proposed to be managed and monitored through a Central Inspection System,’ said Mr Valaven.
The policy offers various benefits for projects given mega retail park status i.e. projects involving a fixed capital investment of at least ¹ 100 crore or more than 5,000 direct employment for establishing a consolidated single product / sector Retail Park.
He further added, ‘the one-time external infrastructure support of 50% depending on employment and stamp duty exemption will prove to be big benefits for the retail trade’.
The policy also aims to simplify labour laws and support human capital development. All the incentives will be disbursed only after meeting the mandated investment or employment targets highlighted in the policy.
The Retailers Association of India [RAI] also hailed the policy wherein its CEO Mr Kumar Rajagopalan said “The Retail Park Policy 2021-26 is a welcome initiative by the Andhra Pradesh Government. The reforms in the policy such as the single desk online clearance for licenses, setting up of retail hubs and simplified labour laws that include night-shifts for women workers among others are progressive steps that will help take retail in the State to the next level. We hope other states too will follow suit.”
New Retail Policy gets 1st Investment
With the new retail policy announced M/s Capital Business Park LLP has proposed to set up a Mega Retail park (Textiles), with a built up area of 7 lakh sq.ft to accommodate over 900 textile and apparel outlets at Tadepalli, Guntur District.
This will be done at an investment of Rs.194.16 Crore and with a potential to create direct employment to 5,000 people and requested for providing certain incentives.
SIPB has decided to extend the special package of incentives to M/s Capital Business Park LLP under AP Retail Parks Policy 2021-26 said a GO issued by Mr Karikal Valaven, IAS special chief secretary to government & CIP.