COVID-19 pandemic: Mobile retailers urge for stimulus package
By MYBRANDBOOK
To win against powerful pandemic and crisis that follow it, mobile retailers have urged Finance Minister Nirmala Sitharaman to provide a powerful stimulus package with new guidelines to help the mobile retailers.
“It will be a complete disaster for shop owners if the government doesn’t come up with a balanced relief package. We fear at least 20% or more retailers will be forced to shut down their businesses,” said Arvinder Khurana, National President of the All India Mobile Retailers Association or AIMRA in a letter written to the FM.
The letter said that lockdown will put a full stop to mobile retailers as they won’t be able to fulfil their basic payments. Also, due to the ongoing lockdown, small businesses will not be able to bear more losses and will start reducing their employees, the letter added.
From a list of relaxations demanded, mobile retailers have requested guidelines be issued that landlords should not collect rentals for the lockdown period. They have also asked the government to pay 50% salaries of employees and the employer can pay 25% while employees should be asked to bear a cut of 25%.
The retailers have also requested that each and every mobile retailer registered under the GST Act to be provided with 10 lakh loan at 5% per annum interest rate without collateral for 2 years.
This plea for help comes a month after the government increased the GST on mobile phones from 12% to 18%. Following the hike, several mobile phone makers including Samsung, Oppo, Realme, Vivo and Xiaomi have increased the prices of their phones, a move that has added to the woes of mobile retailers.
AIMRA has requested the government to consider their plea as retailers are looking for support from the government to ensure their survival and payment of wages to their staff.
The government of India intends to construct a single portal f
A single portal will be launched by the Indian government to list all of it...
OpenAI offers GPT-4o, a faster model available to all users at
GPT-4o, a faster and more sophisticated AI model, is made available to all...
Paytm brings UPI Lite Wallet for low-value transactions
Paytm’s parent company One97 Communications (OCL) is emphasizing upon UP...
BHIM to join e-commerce, competing with PhonePe and Google Pay
The government-supported payment software BHIM is getting ready to join t...
SECLORE TECHNOLOGY PVT. LTD.
HAVELLS INDIA LTD.
SAMSUNG INDIA ELECTRONICS PVT. LTD.
AMARA RAJA POWER SYSTEMS LTD.
Technology Icons Of India 2023: Byju Raveendran
Byju Raveendran is the founder of edutech start-up Byju’s. Raveendra...
Technology Icons Of India 2023: Sachin Bansal
Sachin Bansal’s fintech startup, Navi Technologies, simplifies loan ...
Technology Icons Of India 2023: Kumar Mangalam Birla
Aditya Birla Group chairman Kumar Mangalam Birla’s return to Vodafon...
C-DOT enabling India in indigenous design, development and production of telecom technologies
An autonomous telecom R&D centre of Government of India, Center of Dev...
GSTN aims to integrate indirect tax ecosystem on a shared IT infrastructure
Goods and Services Tax Network (GSTN) has built Indirect Taxation plat...
INDIANOIL helps reach precious petroleum fuels to every nook and corner of the country
IndianOil, a diversified, integrated energy major with presence in alm...
TEXONIC INSTRUMENTS
Texonic has carved a niche for itself in the Technology Distribution i...
EXCLUSIVE NETWORKS SALES INDIA PVT. LTD.
Exclusive Networks is a globally trusted cybersecurity specialist hel...
ACCERON INFOSOL PVT. LTD.
It is a leading value added distributor in the IT security space and h...