Game changes for 5 lakh traders in Gujarat

The traditional markets that have been an integral part of India’s trading ecosystem will have to re-evolve themselves as the rules of games change for them from July 1. 

Small businesses that were for generations run on informal relationship with clients and unbilled trade will now undergo a sea change with the rollout of GST.

Currently unorganised and unregistered, they will sooner or later have to get registered and organised and follow the rules that their larger, organised and, even, foreign multinationals are following.

Any delay or reluctance can risk their existence, feel local trade leaders. While their liabilities will remain the same, it is not certain whether they will be able to get assistance in the form of institutional finance or get access to managerial expertise.