Govt working to bring retail trade, ecommerce policies
The retail trade policy would provide brick-and-mortar retail traders with a business-friendly environment, modern infrastructure facilities, and easy access to credit.
The government is working to bring a national retail trade and ecommerce policy to promote the growth of the sector in the country, a senior official said on Monday.
Joint Secretary in the Department for Promotion of Industry and Internal Trade (DPIIT) Sanjiv said that the retail trade policy would provide brick-and-mortar retail traders with a business-friendly environment, modern infrastructure facilities, and easy access to credit.
The policy is expedited to focus on formulating strategies to provide a globally competitive and sustainable environment for the overall development of retail trade through targeted efforts.
DPIIT, he said, is also working to bring an ecommerce policy for online retailers. "We want that there should be a synergy between ecommerce as well as retail traders," Sanjiv said at a conference on FMCG and ecommerce.
DPIIT is also in the process of formulating an insurance scheme for all retail traders. The accident insurance scheme would particularly help small traders of the country, he added.
"The government is trying to do policy changes not only in ecommerce but national retail trade policy 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," he said.
The joint secretary urged the industry to focus on producing high-quality products.
Further, he said, there is no dichotomy between physical and online retail trade, and both can not survive without each other.
Talking about the Open Network for Digital Commerce (ONDC) initiative, he said, it will change the entire ecosystem of ecommerce and break the hegemony of the few ecommerce giants.
The government, he said, is also working on issuing quality control orders for different products to cut imports of sub-standard products into the country.
The Indian retail market is one of the fastest-growing in the world, expected to reach $2 trillion by 2032, according to Reliance Retail Director Subramaniam V.
Edited by Suman Singh