The Confederation of All India Traders (CAIT) has sought Prime Minister Narendra Modi’s intervention in formulating a national trade policy for the retail sector and setting up a separate ministry of internal trade.
In a communication to the Prime Minister, CAIT said that except retail, all other sectors like small industries, farmers and labourers have a separate policy and a ministry.
It said that retail trade approximately has 6 crore business enterprises in non-corporate sector. It provides employment to 46 crore and contributes 45 per cent to national GDP but has been grossly neglected and has neither a policy nor a separate ministry.
CAIT said in the absence of a trade policy, different verticals circumvent the laws and rules, and encroach upon the businesses of other verticals and create an overlap.
Small businesses become the worst sufferers due to their limited resources, it said.
The traders’ body also suggested that a special working group comprising senior officials and stakeholders may be formed to study retail trade, its bottlenecks, growth prospects and suggest remedial measures.
