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The Telangana government is at advanced stage of finalising an exclusive retail sector policy aimed at streamlining the business.
Jayesh Ranjan, Principal Secretary, IT and Industries, said, “The retail policy has been finalised and is now being wetted by various departments. Once the process is over, it will be put up for finalisation and then for government approval.”
Speaking on the sidelines of the launch of Ikea Hej Store here, Jayesh Ranjan said some of the major retail chains such as Walmart, Ikea, and Metro Cash & Carry have signed up to expand and set up stores in the State.
“We expect many more retailers to come to Hyderabad as it is an ideal destination for investments, providing quality infrastructure,” he said.
The archaic Shops and Establishments Act, which earlier guided the functioning of the retail industry, needed changes. The best way to address this in the backdrop of global corporations setting up their chains was to come out with a new policy framework which takes care of some of their concerns, including working in shifts.
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