National Retail Policy

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State does well in many economic parameters, but freebies promised by parties may spoil its finances

It is important to note that retailers across the board started offering steep discounts and also ran sudden flash sales in their stores to liquidate stocks during the Covid years

CAIT urged the government to investigate the business module of e-commerce companies since every company is showing huge losses year on year but are still continuing with their business activities

The government is working to bring a national retail trade and e-commerce policy to promote the growth of the sector in the country, a senior official said on Monday. Joint Secretary in the Department for Promotion of Industry and Internal Trade (DPIIT) Sanjiv said that the retail trade policy would provide brick and mortar retail traders a business friendly environment, modern infrastructure facilities and easy access to credit. The policy is expedited to focus on formulating strategies to provide a globally competitive and sustainable environment for the overall development of retail trade through targeted efforts. The Department, he said, is also working to bring an e-commerce policy for online retailers. "We want that there should be a synergy between e-commerce as well as retail traders," Sanjiv said at a conference on FMCG and e-commerce here. The Department is also in the process of formulating an insurance scheme for all the retail traders. The accident insurance scheme w

The Department for Promotion of Industry and Internal Trade (DPIIT) has sought the views of 16 departments and ministries on its draft national retail trade policy, which is aimed at the overall development of all formats of the sector, an official said. After getting comments from all the departments and ministries, DPIIT would seek approval of the Union Cabinet on the policy, the official added. The policy would focus on formulating strategies to provide a globally competitive and sustainable environment for the overall development of retail trade through targeted efforts. The objectives of the policy include ensuring easy and quick access to affordable credit, facilitating modernization and digitisation of retail trade by promoting modern technology and superior infrastructural support; development of physical infrastructure across the distribution chain; promotion of skill development and improve labour productivity, and providing an effective consultative and grievance redressa

Proposed national retail trade policy to support kirana stores

The minister said it is imperative to focus on creating an overarching retail policy for the country

The policy aims to create conducive environment for retail trade including by simplifying rules and regulations

The RBI has also estimated a dip in stress at its bi-yearly stability report in December

The DPIIT is the new nodal agency for domestic trade (including offline and online retail) after the subject was shifted from the consumer affairs ministry in February

A policy is being designed to relieve traders from hardships and engage them in a better way to grow their respective business in a structured manner