Retail and FMCG Leaders Call for Simplified Compliance to Boost Expansion
Leaders from retail and FMCG sectors urge government to streamline compliance through a single portal, rationalize GST rates, and simplify licensing at FICCI's Massmerize event. Industry experts highlight challenges of navigating multiple laws and call for clarity in GST classifications to support innovation and faster market expansion.
- Country:
- India
At FICCI's 14th Massmerize event, key figures in the retail and FMCG industries made a compelling plea for governmental action to simplify compliance processes. Their requests centered on a unified portal for approvals, rationalization of GST rates, and streamlined licensing to enhance expansion efforts. The aim is to tackle the fragmented regulatory landscape that hampers growth.
Lalit Agarwal, Co-Chair of FICCI Retail and Internal Trade Committee, emphasized the burden of navigating diverse municipal, state, and national laws for retailers operating across 23 states. 'We need a single, centralised portal for approvals,' he argued, underscoring the challenges in opening new stores nationwide. Ankur Goel of Epigamia echoed these frustrations, advocating for better GST council mechanisms to clear ambiguities in innovative product categories.
Meanwhile, Ajay Suri of Vestige highlighted the confusion over GST classifications, suggesting fewer tax slabs to simplify transactions and reduce mismatches. In response, DPIIT's Himani Pande assured that the government is working on decriminalizing laws and reviewing licenses but needs specific industry input to make targeted improvements.
(With inputs from agencies.)
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