homeretail NewsRetailers under MSME category will get benefit from govt schemes, says RAI CEO Kumar Rajagopalan
Retailers under MSME category will get benefit from govt schemes, says RAI CEO Kumar Rajagopalan
In a move that stands to benefit more than 2 crore traders, the government has included retail and wholesale traders into the MSME category. The decision is aimed at helping COVID-hit traders with priority sector financing and also avail of benefits announced by the government for MSMEs. To discuss more about this move and its benefits, CNBC-TV18’s Shereen Bhan spoke to Kumar Rajagopalan, CEO of Retailers Association of India (RAI).
In a move that stands to benefit more than 2 crore traders, the government has included retail and wholesale traders into the MSME category.
The decision is aimed at helping COVID-hit traders with priority sector financing and also avail of benefits announced by the government for MSMEs.
To discuss more about this move and its benefits, CNBC-TV18’s Shereen Bhan spoke to Kumar Rajagopalan, CEO of Retailers Association of India (RAI).
Rajagopalan said, “It is something that we were looking forward to, this whole idea was to try and make sure that retailers and wholesalers get to register themselves under the MSME. The government has come out with some good schemes for MSMEs and the priority sector lending requirement was not being taken care of retailers because of the fact that they could not register. Now that is getting solved.”
Talking about impact, he said, “This has immediate term impact and the longer term impact, the immediate term impact is definitely about the smaller retailers and here we are talking about MSMEs have been retailers who have businesses up to Rs 250 crore of turnover and that is quite a bit. This benefit is going to be immediately helpful in immediate term finance.”
“The longer-term is what I am more excited about. This means that there is an impetus for retailers to get themselves registered under the MSME schemes and this also would mean that many of them would prefer to get more formalised rather than operate under the radar.”
For full interview, watch accompanying video...
(Edited by : Bivekananda Biswas)
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