Shops, malls, restaurants to stay open 24/7: It's early Diwali

The Cabinet has approved Model Shop & Establishment Act that allows shops, malls and other establishments to operate throughout the year with flexibility to open and shut at their convenience.  Companies that will be benefitting from the move will be Jubilant FoodWorks, Westlife Development, Speciality Restaurant, Shoppers Stop, Aditya Birla, Provogue, Future Consumer, Future Lifestyle, Future Market Network (up 2-10 percent).Shoppers Stop MD Govind Shrikhande says that the cabinet decisions signal early Diwali for them. He is also confident that the 7th Pay Commission will convert to retail demand as the company registered a jump of 20 percent after 6th Pay Commission.

The model law also provides for women to be employed in night shifts with adequate security. It also calls for better working conditions for workers like drinking water, canteen, first aid, lavatory and creche.

As per the proposal mooted by the Labour Ministry, the model law can be adopted by the states with flexibility of modifying it as per their requirement.

The model law is aimed at generating addition employment as the shops and establishment will have freedom to operate for longer hours requiring more manpower.