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| The World Association for Small and Medium Enterprises (WASME) has called for a comprehensive retail policy that would help the SMEs grow on a sustained basis and help the Government address their issues more effectively. WASME has demanded a comprehensive trade policy to regulate domestic trade sector and called for treating small retailers on par with Micro, Small and Medium Enterprises (MSMEs). The president of WASME B U Girei of Nigeria called upon governments to treat SME retail trade enterprises on par with other SMEs and accord them industry status. He observed that though they contribute substantially to GDP, and employ large number of workers, next to agriculture, is still not given the status of MSMEs in many developing and emerging economies. Any impact on these enterprises implies that a major chunk of population will be affected. Gyan Prakash Agarwal, secretary general, WASME, highlighted the relevance of small retail sector to the general economy, both in terms of employment generation and contribution to GDP. A seminar organized by WASME in Noida recently highlighted that the absence of a comprehensive retail trade policy makes the entire retail operations directionless and also provides less chance to these MSM retail enterprises to fight for their interests. Though policies/ laws exist, they are on different aspects and are administered by different agencies/authorities. The seminar also highlighted the need for an official definition for retail trade enterprises and according them a status of MSMEs; need for building up a proper data base of retail enterprises; scope for linkages with large chains/retail stores; and more importantly putting in place an effective regulatory mechanism to preserve the interest of MSM retailers. The seminar was attended by academia and industry representatives. It was organized in the backdrop of Government of India’s plan to permit 51 percent foreign direct investment (FDI) in multi-brand retailing.
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