FICCI recommends recognition of gray office market, submits white paper to Haryana government

FICCI has submitted a white paper to the Haryana government and recommended recognition of gray office market. Said that 700 start-ups are running in homes. With this, six lakh educated unemployed will get employment in Haryana.

State Bureau, Chandigarh. Federation of Indian Chambers of Commerce & Industry (FICCI) has recommended the Haryana government to recognize gray office market. In a paper prepared with its knowledge partner JLL (Jones Lang LaSalle), FICCI has said that this step will be effective in the state’s economy by increasing the Goods and Services Tax (GST) and property tax collection as well as in real estate.

The delegation led by FICCI’s Regional Urban Infra Committee Chairman Vineet Nanda and Regional Head GB Singh presented research papers to K Makrand Pandurang, Director General, Town and Planning Department, and Vishal Bansal, Principal Accountant General of Audit.

Referring to the changing dynamics of workplaces after the pandemic, the delegation said that there is a need to systematically remodel and legalize the ‘grey office market’. Gray office markets are primarily driven by home-based setups used by small-scale start-ups, unorganized workers and the unemployed-remote workforce.

Recognition of gray office market is expected to benefit over 700 start-ups and six lakh unemployed professionals in Haryana. The ‘Work at Home’ system is low-cost, time-saving and full of opportunities for entrepreneurs and unemployed people. This policy will not only boost the formal economy of Haryana but will also help in improving the real estate bye-laws.

Akash Bansal, Senior Director and India Head Consulting, JLL said that about 15 lakh people of Haryana are working from irregular home based establishments which is 25 percent of the total human labour. Out of 3500 start-ups in the state, 2800 start-ups are registered, while 700 start-ups are working from informal locations. Most of these are operated in homes, in which nine to ten thousand people are employed.

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