India being a signatory to World Trade Organisations habitual Agreement on Trade in Services, which include sell and selling services, had to open up the sell trade field to foreign investment. There were initial reservations towards opening up of retail sector arising from fear of job losses, procurement from international market, emulation and loss of entrepreneurial opportunities. However, the government in a serial of moves has opened up the retail sector slowly to unusual Direct Investment (FDI). In 1997, FDI in cash and remove (wholesale) with 100 percentage ownership was allowed under the Government commendation route. It was brought under the automatic route in 2006. 51 percent investment in a single brand retail outlet was also permitted in 2006. FDI in Multi-Brand retailing is require in India.
Definition of Retail
In 2004, The High Court of Delhi[1] specify the term retail as a sale for utmost consumption in contrast to a sale for push sale or processing (i.e. wholesale). A sale to the ultimate consumer.
Thus, retailing can be said to be the user interface between the producer and the individual consumer buying for personal consumption.
This excludes look at interface between the manufacturer and institutional buyers such as the government and other bulk customers. Retailing is the last amour that connects the individual consumer with the manufacturing and distribution chain. A retailer is involved in the act of selling goods to the individual consumer at a allowance account of profit.
Division of Retail Industry nonionized and Unorganised Retailing
The retail industry is mainly divided into:- 1) Organised and 2) Unorganised Retailing
Organised retailing refers to trading activities undertaken by licensed retailers, that is, those who are registered for gross revenue tax, income tax, etc. These include the corporate-backed hypermarkets and retail chains, and also the privately possess large retail...If you want to get a full essay, state it on our website: Ordercustompaper.com
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