Centre mulls retail regulator

The government is exploring the possibility of setting up a new national authority to regulate the 328-billion retail sector. The regulator will monitor retail trade and act upon complaints of illegal practices in areas ranging from procurement to land acquisition, marketing and servicing.

According to government officials, the proposal is at an initial stage and needs to be discussed with various ministries before being taken up by the Cabinet. The officials admit it is in response to strong political opposition to organised retail in general and FDI in particular.

The regulator is likely to be either under the purview of the ministry of commerce 038; industry or the department of consumer affairs, the details of which are being worked out. If the government sets up a regulator, India may become the only country among its peers to have one for the retail sector.

8220;It is imperative to look at the sector from a consumer and producer perspective. The law on consumer protection at present provides a redress mechanism that not only allows handing down preventive orders and compensation,8221; said an official.