Business

New National Retail Trade Policy in final stages: Minister

NEW DELHI, OCT 28 (IANS) | Publish Date: 10/28/2020 1:13:06 PM IST

The government is in the final stages of preparing a new National Retail Trade Policy, Minister of State for Commerce and Industry Som Parkash said on Wednesday.

“We are in the final stage of drafting a National Logistics Policy, a New Industrial Policy, a e-commerce Policy and a National Retail Trade policy,” he said at the inaugural virtual session of ‘FICCI MASSMERIZE 2020’. The national retail trade policy is being formulated to support the development of the sector that will benefit 65 million small traders, besides contributing a significant chunk to India’s GDP, he added.

Parkash said that the government will extend all support to the e-commerce and retail industry through various policies.

The minister also urged the industry to come forward and contribute towards making India Atmanirbhar in every possible way and to elevate the country’s image globally. Parkash said that Covid-19 has had an impact on the people, economy and the businesses, but the industry has worked along with the government to contain the spread of the virus.

He also said that the government has already launched a series of programmes to transform India into a global economic hub. “In the last few years, we have seen significant improvements in ease of doing business ranking, which has been possible due to transformative measures taken by the government,” he said.

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