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As several states begin to relax lockdown restrictions, the Retailers Association of India (RAI) has suggested state governments to reopen the formal retail sector including malls and shopping centres.

In a statement, the industry body noted that the opening up of the formal retail sector across states would ensure revival of the economy.

Speaking on relaxations announced by various state governments, Kumar Rajagopalan, CEO of RAI said: "We believe that formal retail spaces like malls have the ability to operate as controlled environment."

Appreciating the Haryana government's decision to open malls with restricted time, he said: "We hope other states will also follow the same method when opening up and support the economy."

Formal retail spaces such as malls and shopping centres play an extremely important role to play in the economy due to their contribution to the exchequer in the form of taxes and the people they employ, as per the retailers' body.

RAI in its statement observed that economic revival is intertwined with the revival of retail businesses especially large formal retail spaces, which are the drivers of consumption.

The only way of getting rid of the economic impact of pandemic and saving livelihoods is by everybody participating in sharing of the cost burden and acting to revive retail business activity, it said.