The Bill that covers cinemas, theatres, restaurants, bars, banks, warehouses and more, aims to beef up the economic scenario of the country by enabling various establishments to serve their customers, round-the-clock.
No doubt the much awaited GST implementation with surely effect many industries including retail. Retailer Media caught up some of these industry professionals to know more how the newly made amendments will impact them and their industry as a whole.
As an economy, India is largely dominated by the services industry, which contributes more than 52% to the GDP of India. In fact, over the last half decade, the meteoric rise of e-commerce companies has only added to the momentum.
CAIT has reached to the DIPP post an advertisement in newspapers announcing the sale of an item together with its discounted price to be available on Flipkart's portal which is said to be a marketplace.
Marketplaces, if run in the right spirit, could complement retailers by acting like online malls. Retailers would be happy to collaborate with them in the same way as they have collaborated with malls so far.
It's a both good and a bad news because for smaller merchants it will become even more difficult to survive as now the bigger players will get tons of investment which would lead to creating a entry barrier for smaller and niche players.
This is expected to be a 3-day protest by small traders in New Delhi's Talkatora stadium and will be monitored by some of country's eCommerce majors such as Snapdeal, Amazon, eBay, Flipkart and others.