The government is likely to announce a national retail trade policy and an accident insurance scheme for GST-registered domestic traders soon, reported PTI, citing an official.
The policy is aimed at providing better infrastructure and more credit to the traders.
The policy is likely to include provisions related to ensuring easy and quick access to affordable credit, facilitating modernization and digitisation of retail trade; modern infrastructural support for subjects like distribution chain; promotion of skill development and improving labour productivity, and providing an effective consultative and grievance redressal mechanism.
India is the world’s fifth-largest global destination in the retail space. The commerce and industry ministry along with the department of financial services is also working on framing an insurance scheme for all the GST-registered retail traders.
“The government is trying to do policy changes not only in e-commerce but is also bringing a national retail trade policy for physical traders which will be introducing ease of doing business, providing better infrastructural facilities, providing more credit and all sorts of benefits to traders,” reported PTI, citing the official.
Under the proposed policy, a single window clearance mechanism for traders may be developed, besides a centralised and computerized inspection management system.