Retail

Indian government to introduce new retail policy for ease of doing biz

07 Mar '23

1 min read

Pic: Shutterstock

In a bid to promote ease of doing business, Indian government is working on a new national retail trade policy for physical traders. The policy is expected to provide better infrastructure, access to credit and other benefits for brick-and-mortar retail traders, according to Sanjiv Singh, joint secretary in the Department for Promotion of Industry and Internal Trade (DPIIT).

The policy would aim to create synergy between e-commerce and retail traders, Indian media reports said quoting Singh.

The department is also said to be developing an e-commerce policy for online retailers.

In addition to these policies, the DPIIT is working on an insurance scheme for all retail traders in the country. This accident insurance scheme would be especially beneficial for small traders.

Singh urged the industry to focus on producing high-quality products.

"The government is trying to do policy changes not only in e-commerce but national retail trade policy which will be for physical traders which will be introducing ease of doing business, providing better infrastructural facilities, providing more credit and providing all sorts of benefits to traders," Singh added.

Fibre2Fashion News Desk (DP)

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