The Situation
The Kerala government is aware of the challenges faced by traditional retailers because of tough competition from big online shopping companies.
The Problem
Smaller local shops in Kerala struggle because they don’t have the latest technology and can’t compete with the efficiency of big retail chains and online marketplaces.
The Person Speaking
The State Finance Minister, KN Balagopal, is talking about these issues.
The Minister’s Understanding
Balagopal understands that small shops need help. They can’t benefit from buying in large quantities like bigger stores can.
The Proposed Solution
Balagopal suggests that small shop owners should come together and form groups. This way, they can buy things in large amounts directly from manufacturers, just like big stores do. This teamwork helps them get the advantages of buying in bulk.
How It Works
By forming groups, these small shops can also work together on managing their supplies better. This includes things like transportation (logistics) and keeping track of what they have in stock (inventory management).
Why This Matters
Balagopal thinks that if small shops team up and use modern supply chain practices, they can become more efficient and compete better with bigger players in the retail business.
Additional Good News
In the budget announcement, it was mentioned that the Kerala Startup Mission plans to create workspaces in beautiful locations. Also, a well-known tech company, Zoho, is going to open a campus in Kottarakkara, Kollam district. This shows that the government is also making efforts to support startups and technology development in the state.