India's DPIIT seeks views on draft national retail trade policy

26 Dec '22

1 min read

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The Department for Promotion of Industry and Internal Trade (DPIIT) has circulated the draft National Retail Trade Policy (first prepared last year) to 16 ministries and departments seeking their comments. The policy will be placed before the Union Cabinet for its approval after receiving the views from these ministries and departments, according to DPIIT.

The policy has been prepared for streamlining retail trade and development of all formats of retail trade sector in a harmonious manner aiming at improvement in ease of doing business, ensuring easy and quick access to affordable credit, facilitating modernisation and digitisation of retail trade by promoting modern technology and superior infrastructural support, development of physical infrastructure across the distribution chain of retail trade, promotion of skill development and to improve labour productivity, creation of large scale employment opportunities, providing an effective consultative and grievance redressal mechanism for the retail sector, for welfare of traders and their employees, according to the ministry of industry and commerce.

At present, India is the fifth largest retail market in the world.

Fibre2Fashion News Desk (RKS)

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