National retail and e-commerce policy in final stages of drafting: Som Parkash1 min read . Updated: 28 Oct 2020, 08:27 PM IST
The new National Retail Trade Policy, said Parkash is being formulated to support the development of the sector that will benefit 65 million small traders
New Delhi: The government is in the final stages of drafting the national logistics policy, new industrial policy, e-commerce policy and national retail trade policy, Som Parkash, Minister of State for Commerce and Industry, Government of India, said on Wednesday.
The new National Retail Trade Policy, said Parkash is being formulated to support the development of the sector that will benefit 65 million small traders. "These endeavors along with the support of the industry would help in contributing a significant chunk to India’s GDP," he said addressing a virtual event by industry body FICCI.
The government has in the past made public its efforts towards developing a National Retail Trade Policy that is said will create conducive environment for retail trade including by simplifying rules and regulations hindering the growth of retail sector. It has already put out a draft e-commerce policy.
Parkash said the government will extend all support to the large e-commerce and retail players through various policies. “We are in the final stage of drafting a National Logistics Policy, New Industrial Policy, e-commerce Policy and National Retail Trade policy," he said.
Stating that trade, e-commerce and FMCG companies have a significant presence in India, it merits that all companies benefit from the large consumer base here. “DPIIT has always been in the forefront in ensuring that investments come in this sector," said Parkash.