New Delhi, July 17 (KNN) There is a need to create conducive environment for retail trade including simplifying rules and regulations hindering the growth of retail sector, said Hardeep Singh Puri, Minister of State for Commerce and Industry.

In a written reply to Lok Sabha, he said that government proposes to formulate a National Retail Trade Policy.

A number of interactions with Industry/Trade associations, concerned Central Government Ministries/ Departments and State Governments have been held by Department for Promotion of Industry and Internal Trade (DPIIT) to consider issues facing the retail sector and possible solutions for resolving them, he added.

He stated that valuable suggestions have been received in this regard. Necessary steps for formulation of a National Retail Trade Policy are underway. The Government aims to take a decision in this regard at an early date.