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| Retail outlet dealership selection to come up in J&K, Ladakh | | | Early Times Report
JAMMU, June 28: IndianOil, BPCL and HPCL, the leading PSU Oil Marketing Companies (OMCs), are pleased to announce establishment of new retail outlets across the country. This aims to meet the growing demand for petrol and diesel in line with the country's fast-growing economy. The demand for Retail sales of Petrol and Diesel is increasing over the years. With the country's economy experiencing significant development, the need for energy has increased manifold. As a result, OMCs are undertaking the expansion of their retail outlet network to cater to this rising demand. The expansion will cater to emerging markets such as urban areas, upcoming highways, agricultural pockets, rural, remote, and far-flung areas. This expansion aims to ensure that quality petroleum products, are readily available to meet the agricultural demand of rural areas and serve the needs of people residing in remote regions. The expansion of the retail outlet network not only addresses the growing energy needs but also creates employment opportunities. Entrepreneurs are encouraged to seize this chance to associate with Fortune 500 companies and establish successful ventures in the retail outlet dealership sector. Due to economic development in the country, land has become scarce, costly and also opened up new opportunities for the landowners to utilize such land for alternate purposes, including the dealership of OMCs. The last opportunity for setting up of Retail outlets (Petrol pumps) was offered by the PSU Oil Marketing Companies (OMCs) in the year 2018. Now, the Oil Marketing Companies have invited applications from prospective candidates for setting up of Petrol pumps. To simplify the dealer selection process and align with the government's emphasis on ease of doing business, the OMCs have introduced user-friendly online applications and simplified application forms. While availability of suitable land at the advertised location/stretch is crucial, applicants for SC/ST locations can still apply without land initially, but they are expected to offer land when called for. The selection process will involve a computerized draw of lots or bid opening conducted by an independent agency to enhance transparency. All retail outlets will be developed using the latest technology, including automation. The dealership of retail outlets is seen as a significant opportunity for entrepreneurs to associate with Fortune 500 companies.
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