To boost employment, Delhi government prepares to hold shopping festivals
After selecting five major markets for redevelopment, the Delhi government has started preparing to hold shopping festivals in popular markets across the city. Deputy Chief Minister Manish Sisodia asked traders and market associations to prepare a roadmap, with suggestions on how and where these festivals should be held.
The decision to solicit input follows a recent meeting chaired by Sisodia and attended by 25 wholesale market traders. During the meeting, market associations and traders demanded that space be provided for those in Delhi to exhibit their businesses at the trade fair held annually at Pragati Maidan.
Some traders have suggested that the Delhi government organize shopping festivals in major cities in other states and local festivals in the nation’s capital at popular markets like Chandni Chowk, Lajpat Nagar, Connaught Place and Sarojini Nagar Market.
Under this proposal, which is one of the major initiatives proposed under Delhi’s ‘rozgar’ budget 2022-23, the government aims to organize mega shopping festivals in Delhi where shopkeepers selling wholesale items display their products to promote made-in-India items and increase revenue. . The plan is to promote Delhi as the city with the best wholesale markets in the world.
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“Each market in Delhi is famous for its own product, be it spices, clothes, dried fruits, shoes, electronic items, etc… Small traders and retail buyers of out of Delhi come to buy goods as better goods are available at affordable prices, thus this festival aims to increase the brand value of markets and items,” said Brijesh Goyal, Commercial Wing Manager of the AAP and President of the Chambers of Commerce and Industry.
Merchants also requested a GST exemption. “We told them to seek suggestions from all traders in their markets, prepare a roadmap and present it at the next meeting with the Deputy CM,” Goyal added. The Delhi government has allocated a budget of Rs 250 crore for the improvement of wholesale and retail markets in Delhi. The government aims to generate 5 lakh jobs through these festivals.
In its “rozgar” budget, the government has proposed that the shopping festival be held every year for six to eight weeks separately for the retail and wholesale markets to boost the economy and create job opportunities. The government will issue SGST refunds to sellers and stores for offering discounts.