European retail giants like Marks & Spencer, IKEA, H&M, Decathlon and Swarovski have filed a petition in the Indian Ministry of Consumers Affairs seeking exemption from marking the Maximum Retail Price (MRP) on their products.
The retailers have urged the Ministry to look into the matter as they see the process as challenging which affects the ease of doing business in India.
According to the petitioners, products sold by them in the Indian market are sourced directly from their global suppliers and this rules out any scope of price manipulation.
MRP system, which has been in practice in India since 1990, came into existence to protect consumers from exploitation by retailers. The move also aimed to curb tax evasion.
It’s not only the MRP, the Indian Government has also made it mandatory to mention details of the manufacturer or importer, date of packaging and expiry and other details on the products.
The European retailers have reportedly claimed that they need to separate goods meant for sale in India and label them accordingly to abide by the MRP rules in the country. This makes it a cumbersome task for them to operate in India.
