New Delhi, June 26 (KNN) The draft of National Retail Policy will be available in the span of 10 days for the trade fraternity to evaluate and prepare comments on it, said Ramesh Abhishek, Department for Promotion of Industrial and Internal Trade Secretary (DPIIT).

He chaired a meeting with the trade associations of India to discuss the National Retail Policy. The meeting was convened by the Ministry of Commerce while CAIT, Swadeshi Jagran Manch, Laghu Udyog Bharti, Retailers Associations of India, CII, FICCI, ASSOCHAM, PHD Chamber and others also attended it.

According to Abhishek, the Government took considerable efforts to measure the ground realities of retail trade and the Policy is being designed to relieve the traders of daily hardships and engage them in a better way to grow their businesses.

Secretary General of the Confederation of All India Traders (CAIT), Praveen Khandelwal affirmed that upgradation and modernization of the existing format of trade has become agonizingly important. Out of the total 7 crore traders only 35% have computerized their businesses which leaves the remaining 65% in the dark and the Government to provide subsidies to the underprivileged.

He believes that the Centre has carefully drafted the Policy to provide ease of doing business.

The retail trade in India is approximated around 650 billion dollars and hence asserted as the lifeline of the economy. Therefore, a structured Policy is all the more required for smooth business activities in the country, said Khandelwal.

He has urged the Government to review all laws, Acts and Policies related to internal trade and abolish all the redundant ones.

A point was also raised to focus on women participation in entrepreneurship. He added that skill training for traders must be drafted into the Policy to establish an organized and structured trading format. Simplifying the tax structure applicable on traders and tax collector status for traders was also suggested.

Financing traders in the current existing system has proved to be difficult in the past few years and this obstruction must be adhered by the Government in their National Retail Policy.

He also suggested formation of Trade Tribunals in all the states for resolving legal business disputes between traders. To enable Indian Retail sector to compete in global business, the Government should conduct abroad study tours, fairs, exhibitions, seminars for adoption of best global trade practices.

Since Government is more inclined to promote digital payments, the bank charges on card payments transactions should be subsidized by the Government directly to Banks, recommended CAIT.

He also suggested that under the policy there should be a provision of Trade Commissioner and District Trade Advisory Committee in each district of the Country. He also called for special schemes to promote artisans, handicraft and other, underprivileged specialized field.