New Delhi: Traders’ body CAIT said on Sunday it has written to the Prime Minister seeking a national policy for retail trade and formation of a separate ministry of internal trade.
Confederation of All India Traders (CAIT) has also suggested that foreign trade may be assigned to ministry of external affairs instead of the ministry of commerce. These steps will not only strengthen the domestic trade but will improve export performance of the country, said CAIT.
CAIT secretary general Praveen Khandelwal said that domestic trade has remain neglected by every government and no focus is given to streamline the internal trade.
“It is regretted that internal trade was never on priority of any government so far. As per NSSO report, it consists of about 6.5 crore small businesses across India thereby strengthening the economy. Despite such a magnificent contribution to economy and exchequer, no special attention has been given to this sector,” said CAIT.
Mr Khandelwal pointed out that all other sectors of economy like agriculture, industries and small industries among others have a national policy and a separate ministry.
“To ensure structured growth of internal trade, it is necessary to have a national trade policy for retail trade and formation of a separate ministry for internal trade to administer, regulate and monitor the domestic trade,” said CAIT.
