Business Other News 21 Oct 2016 Telangana Govt prepa ...

Telangana Govt prepares retail policy to provide incentives to E-commerce firms

DECCAN CHRONICLE.
Published Oct 21, 2016, 1:53 am IST
Updated Oct 21, 2016, 2:37 am IST
Sources said the government will extend loans and incentives under T-PRIDE and T-IDEA, apart from other benefits.
A committee chaired by Chief Secretary Dr Rajiv Sharma has approved the policy and sent it to the Cabinet. (Representational image)
 A committee chaired by Chief Secretary Dr Rajiv Sharma has approved the policy and sent it to the Cabinet. (Representational image)

Hyderabad: The Telangana government has prepared a retail policy to provide incentives to e-commerce firms on par with the industrial sector, to boost the sector as well as to attract investors.

Sources said that the draft copy is yet to be approved by the Chief Minister and the Cabinet. “Retail outlets like e-commerce firms and other retail outlets with more than Rs 50 crore of investment in the state will be considered as industries as per the draft copy of the policy,” the sources said.

 

As per the draft policy, retail sector, including e-commerce firms, will get subsidies in land allotment, power tariff, and loans like industrial sector.

A committee chaired by Chief Secretary Dr Rajiv Sharma has approved the policy and sent it to the Cabinet. After it gets the Cabinet’s approval, the draft will be put before the Assembly.

The retail policy targets investments from popular international retail giants such as Amazon, Adidas AG, Walmart, Aeropostale, Opinio, MobiKwik, Abu Dhabi-based Lulu Group, Aditya Birla Retail and US-based pizza chain Sbarro among others.

Sources said the government will extend loans and incentives under T-PRIDE and T-IDEA, apart from other benefits. “The retail outlets will also get exemptions on stocking limit under Essential Commodities Act and Package Commodities Regulations. The government will create retail entertainment zones and appoint a nodal agency,” the sources said.

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Location: India, Telangana, Hyderabad




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