The World Association for Small and Medium Enterprises (WASME) has called for a comprehensive retail policy that would help the SMEs grow on a sustained basis and help the Government address their issues more effectively. WASME has raised concerns for treating small retailers on par with Micro, Small and Medium Enterprises (MSMEs). A seminar organized by WASME in Noida recently highlighted the absence of a full spectrum retail trade policy for all types of retailers.
The seminar also brought to light the need for an official definition for retail trade enterprises and according them a status of MSMEs; need for building up a proper data base of retail enterprises; scope for linkages with large chains/retail stores; and more importantly putting in place an effective regulatory mechanism to preserve the interest of MSM retailers.
President of WASME, B U Girei of Nigeria, called upon governments to treat SME retail trade enterprises on par with other SMEs and accord them industry status. He took note that though they contribute substantially to GDP, and employ large number of workers, next to agriculture, they are still not given the status of MSMEs in many developing and emerging economies.
