Union Budget 2024-25: Here are the key challenges in retail sector

Key challenges
 

 Only 10% of households with formally employed chief wage earners 

 Muted consumer demand 

 Rising food, fuel, and fertiliser prices have depleted rural purchasing power  

 Weak inter-state migration of labour 

 Digital transformation needs to have zero tolerance on consumer data breaches

 

Industry ask

 Increase direct benefit transfer to generate rural demand

 Faster disbursement of PLI to increase job formalisation

 Easy access of credit for MSMEs to build robust supply chains 

 Create an inter–state migration council to ensure free movement across states 

  Notify details of the digital personal data protection Act transparently

Reforming multi-brand retail to spur investments in retail infra, job formalisation through MSMEs, continued government investment to facilitate commerce and access will be key
 

Ravi Kapoor, Partner & Leader, Retail & Consumer, PwC India