New Delhi, Jan 31 (KNN) Government's move to include internal trade including retail trade under the Commerce Ministry's arm Department of Industrial Policy and Promotion (DIPP), which has been renamed as the Department for Promotion of Industry and Internal Trade, has been welcomed by the country's retailers.

The  Retailers Association of India's (RAI's) CEO Kumar Rajagopalan said it’s a welcome move and will definitely help retail realize and reach its true potential.

He stated “We at RAI have been advocating for a ministry since a long time. The move in this direction will create a focus for retail and help in growth of GDP and growth of employment.”

He said that retail is one of the driving forces that is propelling India's economic surge in recent years. Its total size is US$ 820 billion, and its share in India's GDP is 28%.

Retail plays a vital role in transforming India into a major Economic superpower, he added.

The retail trade now has a separate Ministry and a Nodal Department. The Department of Industrial Policy and Promotion (DIPP) has been renamed as the Department for Promotion of Industry and Internal Trade.

With this, the issues related to promotion of internal trade, including retail trade; welfare of traders and their employees; matters relating to facilitating ease of doing business; and startups will dealt by the DPIIT under the ministry.