Government will soon announce National Retail Trade Policy

The Central Government may soon bring a National Retail Trade Policy and Accident Insurance Scheme for GST-registered traders. News agency PTI quoted an official as saying that the proposed policy would help in providing better infrastructure and more loans to traders.
The official said that in this policy of the government, modern infrastructure support can be provided for the distribution chain along with cheap loans, modernization and digitization of retail trade. Apart from this, skill development, improvement in labour productivity, effective consultation and grievance redressal mechanism can also be started.
With India being the fifth largest retail destination globally, the Commerce-Industry Ministry and the Department of Financial Services are working together to come up with an insurance scheme that will benefit all GST-registered traders.
Regarding the National Retail Trade Policy, the Confederation of All India Traders (CAIT) said that it will help in increasing the retail business. The policy will have fixed norms and basic principles, according to which the retail business will be run.
CAIT Secretary Praveen Khandelwal said that Relate business is the only vertical of the economy for which there is no policy as of now. The insurance scheme for traders will recognize their contribution to the economy.