Draft of National Retail Policy will be released in 10 days: DPIIT

Draft of National Retail Policy will be released in 10 days: DPIIT

New Delhi, June 25 (HS): In a meeting convened by Ministry of Commerce today with trade Associations for discussion on National Retail Policy, the DPIIT (Department for Promotion of Industry and Internal Trade) Secretary Ramesh Abhishek who chaired the meeting said that a draft of National Retail Policy will be released in next ten days seeking comments from trading fraternity.

He said that Government has tried its best at all levels to understand the ground realities of retail trade and accordingly the policy is being designed to relive traders from hardships and engage them in a better way to grow their respective business in a structured manner which may be to the advantage of Indian economy.

The National Retail Policy will streamline the retail trade in India and is poised to provide ease of doing business. He said that retail trade in India is about 650 billion dollar and life line of economy therefore a national retail policy is all the more necessary for smooth business activities in the Country.

While participating in the deliberations, Praveen Khandelwal, Secretary General of the Confederation of All India Traders (CAIT) said that National Retail policy should include upgradation and modernisation of existing format of retail trade. The Govt has almost moved to e system whereas till now only 35 per cent of traders out of 7 crore have been able to computerised their business. Serious steps are needed to link rest of 65 per cent traders with Computer system and for this Govt should provide 50 per cent subsidy to traders.

Khandelwal also said that all laws, Acts and Rules governing domestic trade should be reviewed and redundant laws should be scrapped. There should be one license instead of more than 28 licenses for conducting business and their yearly removal should be abolished as it causes great harassment and corruption.

He also sought special scheme under policy to encourage more women to become entrepreneurs. He also suggested that skill development of traders should also find place in policy and it will be better if a Skill Council for Retail Trade is formed. He also called for simplification of overall tax structure applicable on traders and tax collector status for traders.

Khandelwal said that easy access to finance is a big challenge for traders and as such steps are needed so that traders may get finance in a easy way. He suggested that as per original mandate of MUDRA, the Non Banking Finance Companies and Micro Finance Institutions should be the lenders to borrowers instead of Banks and Banks should lend to NBFCs and MFIs to augment their lending capacity. Since Government is more inclined to promote digital payments, the bank charges on card payments transactions should be subsidised by the Govt directly to Banks.

He also suggested that under the policy there should be a provision of Trade Commissioner and District Trade Advisory Committee in each district of the Country. He also called for special schemes to promote Artisans, Handicraft and other underprivileged specialised field. He also suggested formation of Trade Tribunals in each State for resolving legal business disputes between traders. To enable Indian Retail sector to stand against global business, the Govt should conduct abroad study tours, Fairs, Exhibitions, Seminars etc for adoption of best global trade practices.