24/7 policy for retail stores in other developed economies has given significant boost to their growth in the past.
Welcoming the flexibility for the retail sector to open round the clock with the passage of a model bill by the Union Cabinet here on Wednesday, the industry said it will add thousands of additional jobs in the sector.
The Model Shops and Establishment (Regulation of Employment and Condition of Services) Bill 2016 to give flexibility to shops, restaurants, cinemas, etc, to operate round the clock was approved by the Union Cabinet.
“We welcome the Model Shop and Establishment Act by the Union Cabinet. This is a progressive decision that will benefit the service providers as well as the users, and has the potential to generate additional employment opportunities in the country,” Ajay Kaul, CEO of Jubilant FoodWorks, said.
“For us, the new Act opens up greater avenues for reinventing our service offering for customers and catalyse growth,” Kaul said.
“Model Shop and Establishment Act by the central government is a welcome step and we hope all the states will adopt it. With flexibility available to retailers to open their establishment 24/7, not only thousands of additional skill jobs will be added, but it will also make the retail markets vibrant giving customers flexibility and convenience to shop anytime,” Krish Iyer, President and CEO of Walmart India, said.
“24/7 policy for retail stores in other developed economies has given significant boost to their growth in the past. A vibrant retail environment is critical to the economic growth and it also contributes towards important initiatives such as Make in India because it boosts domestic consumption,” Iyer said.
“The passing of the Models Shops and Establishment Bill will have a positive effect on the market, as it will lead to increase in employment opportunities. This will also enable level playing for brands across online as well as offline retail platforms,” Abhishek Bansal, Executive Director, Pacific India, said.
“At Pacific Mall currently shops that close by 9 p.m. can now remain open till about 11 p.m. which will be good for customers who only get a chance to shop after they return home from work or people working late shifts,” Bansal said.
“Being a premium high-end shopping and leisure destination we have invested in state of the art security management service and surveillance systems and we will have to look into hiring and training more people according to their job profiles post this change,” Bansal added.
“This is extremely wonderful news and a victory for the NRAI ((National Restaurant Association of India). We have been lobbying hard for the past many years for the freedom of operational timings in restaurants. We are delighted as this will go a long way in boosting the economy and employment in India. We are hopeful that the state and local authorities would cooperate and adopt this model” Riyaaz Amlani, President, NRAI, said.