The Ministry of Commerce is in the final stages of drafting the National Retail Trade policy, and is also finalising policies for logistics, industry and e-commerce.
Speaking at a Ficci event, Som Parkash, Minister of State for Commerce & Industry, said, the National Retail Trade Policy is being formulated to support the development of the sector and will benefit 65 million small traders. “These endeavours along with the support of the industry would help in contributing a significant chunk to India’s GDP,” he added.
He further stated that trade, e-commerce and FMCG companies have a huge presence in India along with a large consumer base that provides numerous opportunities for every player in this sector. He added that DPIIT has always been at the forefront to ensure that investments are encouraged in this sector.
Parkash 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.