DPIIT Seeks Feedback From Ministries On Draft National Retail Trade Policy

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According to an official, the Department for Promotion of Industry and Internal Trade (DPIIT) has solicited feedback from 16 departments and ministries on its draft national retail trade policy, which is aimed at the overall development of all formats of the sector.

The policy would be approved by the Union Cabinet after receiving feedback from all departments and ministries, according to the official.

Through targeted efforts, the policy would focus on developing strategies to provide a globally competitive and sustainable environment for the overall development of retail trade.

The policy’s goals include ensuring easy and quick access to affordable credit, facilitating retail trade modernization and digitisation through the promotion of modern technology and superior infrastructural support, developing physical infrastructure across the distribution chain, promoting skill development and improving labour productivity, and providing an effective consultative and grievance redressal mechanism for the sector.

In terms of retail, India is the world’s fifth-largest global destination.

A cohesive national retail policy, according to a CII-Kearney report on retail, can help generate 30 lakhs more jobs by 2024. The report will be published in November 2020.

The policy’s objectives include facilitating retail trade modernization and digitisation through the promotion of modern technology and superior infrastructural support, developing physical infrastructure throughout the distribution chain, promoting skill development and improving labour productivity, and providing an effective consultative and grievance redressal mechanism for the sector.

In terms of retail, India is the world’s fifth-largest market.

According to a CII-Kearney retail report, a unified national retail policy could help create 30 lakh new jobs by 2024. The report is scheduled to be released in November 2020.



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