The Telangana government is at advanced stage of finalising an exclusive retail sector policy aimed at further streamlining business.

Jayesh Ranjan, Principal Secretary, IT and Industries, Telangana, 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 on Wednesday, Jayesh Ranjan said some of the major retail chains such as Walmart, Ikea, Metro Cash and Carry, have signed up with the Patna government outlining their plans to expand and set up stores in the State.

“We expect many more retailers to come calling 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.

Referring to Ikea's first interaction about three year's ago, when they came calling to the newly carved out State of Telangana, the Principal Secretary said those were merely preliminary discussions. However, within days they returned with concrete plans for setting up of their first store in Hyderabad. This is a clear indication of how the State and Hyderabad fit into the retail plans of not just global corporations but Indian retailers seeking to expand.

While Ikea has been extended some of the concessions they get as a mega industry, that is a company which invests about ₹1,000 crore and above, they would also be entitled to some of the concessions the new policy would offer.

In the case of Ikea it has been extended 100 per cent stamp duty exemption for registration, ₹1 per unit discount for electricity tariff and employment linked rebates.

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