While
rolling out a red carpet for the retail sector, the state government in Andhra
Pradesh has offered multiple relaxation and investors' friendly norms in its
new retail & trade policy, and targeted a staggering investment worth Rs.
5,000cr. In its scheme of things, retail enterprises have been granted greater
flexibility in terms of open hours, engaging part-time employees, and removal
of stock limits for essential commodities. Attracted by the new norms, four
leading retail chains — Walmart, Future Group, Spencer's, and Arvind — have
signed MoUs to invest Rs. 1,500cr in AP where they will create the necessary
infrastructure and construct retail space across the state. Touted to be the
first-of-its-kind policy in the country attempted by any state, the policy also
offers various incentives and the ease of doing business applicable to other
sectors. The new norms allow flexibility that retail enterprises can stay open
seven days a week from 6 am to 11 pm. In view of this, K Raheja Corporation
announced that the group had identified four cities to establish new shopping
malls. While Walmart India would establish 15 new stores in the state, besides,
setting up a centre for sourcing agriculture products from small and marginal
farmers, chief executive Krish Iyer said.
During the Covid-19 crisis, I’ve spoken with many CEOs who have shared that a key priority for them, naturally, has been the safety and well-being of their employees. And there are many examples of inspiring actions taken by CEOs and companies in support of their employees. But as we’ve come to recognize that this crisis will last more than a few short weeks, companies are now defining their approach for the long haul. I’ve seen two crucial ideas take hold with corporate leaders. One: Given the magnitude of the shock and the challenges that this crisis represents, companies must consider the full breadth of their employees’ needs as people. Safety is essential, of course, but it’s also important to address higher-level needs such as the want for truth, stability, authentic connections, self-esteem, growth, and meaning in the context of the crisis. Two: Many CEOs have begun thinking about this crisis in three phases. They may assign different names or specific lengths to t