Government proposes to formulate retail trade policy soon: Piyush Goyal

New Delhi: The government has proposed to formulate a ‘National Retail Trade Policy’ and stakeholder consultations are being held for the same, Parliament was informed Wednesday.

In a written reply in the Rajya Sabha, Commerce and Industry Minister Piyush Goyal said that the government has set up a ‘National Traders’ Welfare Board’ with the objectives of welfare of traders and their employees, simplification of the Acts and rules applicable to traders, reduction of compliance burden and improvement in access to funds.  “Yes. The government proposes to formulate National Retail Trade Policy,” Goyal said in reply to a question.

Replying to a separate question, the minister said the government is in the process of finalising a ‘National Logistics Policy’ which will help bring down logistics cost significantly.

Goyal also said 24 sub-sectors (such as agro-food processing, steel, agro chemicals, electronics products, furniture, leather, auto parts and textiles) in manufacturing have been identified in consultation with industry based on export potential, import substitution and employment generation capacity, where attention would be given to make India a self-reliant country and a global supplier.

In another reply, the minister informed the Upper House that Make in India is now focusing on 27 sectors under ‘Make in India 2.0’.

“DPIIT (Department for Promotion of Industry and Internal Trade) is coordinating action plans for 15 manufacturing sectors, such as aerospace and defence, food processing, capital goods, leather, pharmaceutical and medical devices, etc, while the Department of Commerce is coordinating for 12 service sectors,” Goyal stated.