The Hindu Business Line : Need for regulatory framework for retail sector

MR M.L. Mansingh, Secretary, Department of Consumer Affairs, has underlined the need for a regulatory framework for the retailing sector. He was addressing a two-day conference on Footfalls: International Conference on Opportunities & Challenges in Retail organised by the Federation of Indian Chambers of Commerce and Industry.

Mr Mansingh said, "We need to be wary of the danger of over-regulation as very often we tend to go overboard." Voicing a cautionary note, he added that the consumer has to be central in the scheme of things.

On the part of the Government, Mr Mansingh said, "We need to weed out all the redundant laws that are actually working as constraints in realising the sector's true potential."

Also present on the occasion were Mr B.S. Nagesh, CEO Shopper's Stop, and Mr Ravi Thakaran, Regional Managing Director, LVMH Watches and Jewellery Division for Asia Pacific.