Retail Trade Policy: DPIIT Seeks Traders' Input

New Delhi, May 21 (PTI) The Department for Promotion of Industry and Internal Trade (DPIIT) has asked National Traders' Welfare Board to provide suggestions for the formulation of a national retail trade policy, an official statement said on Wednesday.

It was suggested in the sixth meeting of the National Traders' Welfare Board (NTWB) which was convened here on May 20.

During the meeting, DPIIT Joint Secretary Sanjiv underscored the contribution of the retail trade sector to the Indian economy.

He called upon the "Board members to provide constructive and inclusive suggestions towards the formulation of the National Retail Trade Policy, with a particular emphasis on participation from the grassroots level," it said.

In the meeting, NTWB Chairman Sunil J Singhi urged the traders to adopt digital platforms like the Open Network for Digital Commerce (ONDC) stating that such initiatives can significantly enhance market access and income opportunities for small retailers.

Members were urged to support the onboarding of local traders onto such platforms to ensure their integration into the digital economy.

In 2021, a draft retail trade policy was prepared for streamlining retail trade and development of all formats of retail trade sector in a harmonious manner.

It was aimed at improving ease of doing business, ensuring easy and quick access to affordable credit, facilitating modernization and digitization of retail trade.