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

Digital transformation needs to have zero tolerance on consumer data breaches

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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 
 
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First Published: Jul 16 2024 | 11:24 PM IST

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