RAI sets up helpdesk for retailers to register on Udyam Registration Portal
After the announcement made by former minister of Micro Small and Medium Enterprises (MSMEs), Nitin Gadkari, of including retailers and wholesalers under the ambit of MSMEs, the Retailers Association of India (RAI) has launched a ‘Retail MSME Help Desk’ to help its members register themselves on the Udyam Registration Portal so that they can avail the benefits the government rolls out for the sector at large.
As part of this development, 2.5 crore retail and wholesale traders are expected to benefit.
Commenting on this move, Kumar Rajagopalan, CEO, Retailers Association of India (RAI), said,
"This landmark decision will give retail MSMEs the support they need to survive, revive, and thrive. Most importantly, it means that retail and wholesale businesses will get structured better in days to come since they need to create a formal method for operating and reporting to use benefits accorded to them. Many retailers who have avoided due formal recording of business will now be motivated to get formalised.”
The numbers of MSMEs registered on the Udyam Registration portal crossed the 30 lakh-mark in May this year according to the MSME ministry portal.
This included enterprises from both the manufacturing as well as the services sector (which occupies the larger portion). The top five industries under which the small and medium businesses (SMBs) are registered include food products, textile, apparel, fabricated metal products, machine and equipment.
The maximum number of registrations are from Maharashtra followed by Gujarat, Uttar Pradesh, Madhya Pradesh, Punjab, Delhi, Kerala, and so on.
The RAI has about 6,534 member establishments, including large and small retailers in the country, having approximately 500,000 stores providing direct and indirect employment to 43 million Indians.
The retail sector took a major beating in the wake of the coronavirus pandemic. According to the 16th edition of the ‘Retail Business Survey’ by RAI, the May 2021 sales of the retail industry — which contributes to 10 percent of the nation’s GDP — recorded a significant decline of 79 percent as compared to pre-COVID level sales in May 2019, following the closure of retail businesses across the country.