From now on Federation of Surat Textile Traders Association will rent shops to only those traders who are able to prove their credibility and have a solid goodwill in the market.
Now renting a shop at textile markets in Surat would be a bit difficult. Worried because of increasing cases of cheating by fake traders, the Federation of Surat Textile Traders Association (FOSTTA) has come-up with a new solution.
From now on, it'll rent shops to only those traders who are able to prove their credibility and have a solid goodwill in the market. In fact, FOSTTA has also prepared a special form, which has to be filled, before anybody can rent a shop.
The form named 'Information On New Shop Opened' would register minute details of shop owner, the tenant and broker. The association has distributed the form in the majority of textile markets.
“This is done so that, even if the person, who has rented the shop, dupes traders and weavers, he can be caught. Many cheaters and fake traders are still at large because we don't have any information about their whereabouts. The information collected would also be shared with the police, so that necessary action can be taken in time,” Devkishan Mangani, president of FOSTTA, said.
Also, FOSTTA has laid down the rule that the person who has rented a shop would not be allowed to rent it to other traders, without permission of the shop-owner. It has also directed weavers' association, brokers' association and others to follow similar practice.
“We want to make the form a compulsory procedure, while renting a shop. For this we are creating awareness among traders, brokers and shop-owners. If caution is maintained, no trader and weaver will get cheated. Due to fake traders, Surat textile sector is facing a loss of Rs300-400 crore annually,” Mangani added.
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