New Delhi, Oct 29 (KNN) Minister of State for Commerce & Industry, Som Parkash has said that the government is in the final stages to launch the new National Retail Trade Policy.

Addressing the inaugural virtual session of 'FICCI MASSMERIZE 2020', on Wednesday, Parkash said that the government will extend all support to the e-commerce and retail industry through various policies.

'We are in the final stage of drafting a National Logistics Policy, New Industrial Policy, e-commerce Policy and National Retail Trade policy," he added.

"It is being formulated to support the development of the sector that will benefit 65 million small traders. These endeavours along with the support of the industry would help in contributing a significant chunk to India's GDP," he said.

He further stated that trade, e-commerce and FMCG companies have a huge presence in India along with a large consumer base that provides numerous opportunities for every player in this sector.

"DPIIT has always been in the forefront in ensuring that investments come in this sector," Parkash stated.

He also urged the industry to come forward and contribute towards making India Atmanirbhar in every possible way and to elevate the country's image globally.

Parkash said that COVID-19 has had an impact on the people, economy and the businesses. The industry has worked along with the government to contain the spread of the virus.

"The Government has already launched a series of programs to transform India into a global economic hub. The government works on the vision of minimum government and maximum governance," he noted.

He also added that in the last few years, we have seen significant improvements in ease of doing business ranking, which has been possible due to transformative measures taken by the government.