Retailers' Industrial Unit Status: Millions of Merchants Benefit

The number of wholesale-retailers in the country is 2.70 crore, in Gujarat it is about eight lakh

Nitin Gadkari's new announcement for retailers: Retailers with industry status will get loans at low interest rates

Rs. It will be clarified in the coming days whether a loan of up to Rs 2 crore will be available

5 lakh retailers in Gujarat will get priority in bank loans

Ahmedabad: MSME Minister Nitin Gadkari has decided to give the status of small, medium and medium enterprises to retailers. As a result of their announcement, retailers will also get benefits like micro, small and micro enterprises.

It will also allow traders to benefit from subsidies rather than small-scale manufacturing along with retail trade. Retailers are more likely to benefit from this ad if they sell their own brand of papad. They will be able to get credit as per the guidelines of the Reserve Bank.

Also the capital to do business will be able to get from the bank a little more easily than before. It will also make it easier to get a low interest rate loan in addition to other credits.

In particular, dealers who trade in food items and market certain items in their own way will also be able to benefit from this new financial facility. Retailers and wholesalers who are facing severe hardships during the Corona period will get this benefit.

Revised guidelines for retailers to avail MSME benefits have been released. The number of retailers in India is around 2.70 crore. The estimated number of retailers with GST registration in Gujarat is more than 5 to 7 lakh.

If unorganized sector retailers are taken into account, it is likely to cross the 20 lakh mark. According to a survey conducted by the Retailers Association of India, 79 per cent of retailers in India fall into the category of small traders. Retailers have also lost 30 per cent of their business under the impact of Korna's second wave.

As a result of this decision, retailers will be able to get financial facility more easily. This will enable small retailers to survive in a more sophisticated position than they do now and move on to a more sophisticated business in the coming months. They run their business more easily

Officials at the Gujarat Federation of Retailers' Federation of India say that for the first time in seventy years, retailers have got a status. They will get priority in getting a loan. Also, interest rates on bank loans are likely to remain low. Small and micro enterprises without any guarantee of Rs. They can also benefit from loans up to Rs 2 crore.

They are also expected to be able to raise capital to run the business more easily than before. They will be given all the benefits that micro, small and medium enterprises get. Like small manufacturers, electricity rates are likely to be subsidized.

The state's financial institutions are also looking at the possibility of providing them with the capital they need to do business. Their respect in banks will increase. There will also be market support. Trap traders and wholesalers have long been introducing landing-lending as a priority sector.

Retailers will also have to register with government agencies to avail all these benefits. The number of GST registrants may also increase. Going beyond that, retailers will now be taken into account in every policy decision taken by the government.