Retailers Association of India launches Retail Regulatory Summit (RRS) - 2015

Retail in India presently operates under challenging and complex legal regimes covering several central, state and local laws. Not only do these laws prescribe business entry conditions but they also significantly influence the operative business model of retailers. To help retailers smoothly navigate the complex regulatory maze and to collectively work towards solutions for common issues, the Retailers Association of India launched the Retail Regulatory Summit (RRS) 2015. A first-of-its kind initiative, RRS is a unique platform focussed on regulations in retail.

Top professionals from various retail organizations all across India exchanged views with eminent industry experts and benefitted from the wealth of knowledge and experience of fellow professionals to come up with a practical approach and innovative ideas to take retail ahead and share best practices and to collaborate for collective representation.

"The retail trade is associated with the needs of the society. Today, the needs have changed, which leads to several challenges. If the problems of retailers are not solved, everybody associated with the trade will suffer. Associations such as RAI and platforms such as the Retail Regulatory Summit help the trade in understanding the spirit of the law and flourish," said Shri. P D Kode, Hon. Justice (retired) Bombay High court, who was the chief guest of the Summit.

The chief guest's address was followed by a stimulating CEO panel discussion on, 'Ease of Doing Business in the Regulatory Environment' that saw John Wilcox, CEO, Reliance Retail; Jamshed Daboo, MD & CEO, Trent Hypermarket; Vishak Kumar, CEO, Aditya Birla Retail; Pinakiranjan Mishra, Partner, Ernst & Young and C P Toshniwal, Executive Director, Future Lifestyle exchanging views on the topic.

Speaking at the summit, Kumar Rajagopalan, CEO, Retailers Association of India said, "The Retail Regulatory Summit is about creating a direction that can take the industry forward. Although there are several regulatory obstacles, at an industry level, we can only take steps towards solving them if our interests are aligned. The event was about putting our shoulders together to create the highway on which retail can move ahead smoothly. There are many things we need to do internally before we knock on the doors of the government for ease of doing business. And the Summit is getting together to address both the internal as well as external aspects."

Shri G R Srikkanth, Vice President - Legal, Spencer's Retail Limited said, "Legal and regulatory changes in the retail business are increasing the volume and complexity of work for legal teams. RRS 2015 brought out resolutions to address legal and regulatory issues being faced by retailers in furtherance to the compliances of various legal provisions."

The Summit Focused on Implications and Corporate perspective of:

- Shops & Establishment Act
- Labour Laws Compliances
- Nuances of Retail Trade Policy
- Packaged commodities and Food safety regulation
- Licenses required for opening and operation of retail stores

In addition to the thought-provoking sessions, RAI felicitated members of its Advocacy Committee for their exemplary contribution in the field of regulatory and compliance in retail. Pankaj Patel, head - legal, Future Retail Ltd; Raghu Pilaka, Chief Risk Officer, Reliance Retail Ltd; Ramprasad S, Senior VP - Legal and Company Secretary, Lifestyle International Pvt Ltd; GR Srikkanth, VP-Legal, Spencer's Retail Ltd; Prashant Mehta, VP - Legal and Company Secretary Shoppers Stop Ltd and Gopal Naik, Head - Legal and Compliance; Aditya Birla Retail Ltd.

Source : Equity Bulls

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