Retail trade policy on anvil
Under the proposed policy, a single window clearance mechanism for traders may be developed
image for illustrative purpose
New Delhi: The central government is expected to announce a national retail trade policy and an accident insurance scheme soon with a view to supporting GST-registered domestic traders, an official said.
The official said the proposed policy would help provide better infrastructure and more credit to the traders. It may 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.
