Round the Clock Service
Index : 1,728 | 1Yr : +25.23% | 1Mo : -2.59%
Category : Current Trends
Min Investment : 33,898
The Government of India has approved the Model Shop & Establishment Act, which will allow restaurants, movie theatres, local markets and shopping malls to be open 24/7. This initiative is expected to give online and offline retailers a level playing field to compete with one another. The Act is issued as an advisory to states.
Some experts do not see any reason why it will boost retailing in India and that ultimately consumption is based on income and if that goes up, shopping can happen during the day as well. Whether the Act will be implemented by states remains in question due to the extra load it puts on the police force without generating additional revenue for the government. It also gives the organized players a chance to exploit this opportunity in comparison to small entrepreneurs who do not have sufficient scale or manpower.
However, in spite of the mixed reaction there is a consensus that, the restaurants and the movie theatres are most likely to benefit from this move if the state governments decide to implement it.