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Business EconomyPosted at: Jun 12 2016 6:36PM


CAIT demands National Trade Policy for Retail Trade

New Delhi, Jun 12 (UNI) The Confederation of All India Traders (CAIT) has demanded a National Trade Policy for Retail Trade and a separate ministry of internal trade.
It has also suggested that foreign trade should be transferred to Ministry of External Affairs and Ministry of Commerce should be designated to look after and monitor domestic trade.
In a letter written to Prime Minister Narendra Modi today, CAIT has also suggested that Mudra should be made an independent regulator since loans under Mudra are yet to reach actual beneficiary. Agreeing that e-commerce is a promising business of future, it has called for specified guidelines and act for domestic e-commerce.
While supporting less cash society vision of the Prime Minister, the CAIT has suggested a mass national campaign by the government for encouraging digital payments in the country which will put curb on shadow economy and will restrain black money.
The CAIT in association with MasterCard and HDFC Bank has already launched a national campaign for less cash society since last more than one year in line with your Digital India vision.
CAIT National President B C Bhartia and Secretary General Praveen Khandelwal said so far the retail trade in India does not have any policy neither any individual Ministry whereas other sectors of economy like Farmers, Industries, Small Industries, Transport, Consumers, Labor, do have a policy and a designated Ministry.
“Earlier Governments were responsible for this discrimination with retail trade which needs to be corrected. Therefore, it is requested that a national trade policy for retail trade may be formulated and a separate ministry may be constituted. Such a step will certainly usher into structured growth of retail trade in India and will accelerate the economy and GDP which seems to be under rated. It is suggested that appropriate directions may be given to NITI Aayog for formulating such policy,” they said.
They said, “While saying that e-commerce is a promising business of future as per choice of the consumer is true, but absence of any specified guidelines and law, the e commerce companies in the country are indulging into deep discounting, predatory pricing and adopting unhealthy business practices creating an uneven level playing much to the disadvantage of small businesses.”
UNI ADP AE RJ 1836
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