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DPIIT sought views from various departments and ministries on National Retail Trade Policy, this is the reason

National Retail Trade Policy: Big news is coming out regarding the National Retail Trade Policy. The government wants to keep in mind all the interests of the small businessmen of the country in this new retail business policy. The Department for Promotion of Industry and Internal Trade (DPIIT) has sought views from some departments and ministries of the government on the matter of National Retail Trade Policy.

what is the reason

The main objective of the draft National Retail Trade Policy (NRTP) is to streamline the country’s retail trade along with modernization and digitization. The intention of the government is that all forms of retail trade sector should be developed.

Suggestions sought from departments

DPIIT has sought personal views of 16 departments and ministries of the central government. Its objective is the overall development of all formats of the retail sector. DPIIT will take the approval of the Union Cabinet on this policy only after receiving the comments of all the departments and ministries.

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India is the 5th largest market in the world

India is the 5th largest market in the world in the retail sector. The policy will focus on the overall development of retail trade through targeted efforts. For this, the emphasis will be on creating a globally competitive and sustainable environment. The objective of the policy is to provide easy access to affordable loans and modern technology and better infrastructural support, promote skill development and improve labor productivity.

Know the big things related to the news

    • The Department for Promotion of Industry and Internal Trade (DPIIT) has sought the views of 16 departments and ministries on the draft National Retail Trade Policy.
    • An official said that its aim is to make a holistic development of all formats of the region.
    • The official said that after receiving the comments of all departments and ministries, DPIIT will seek the approval of the Union Cabinet on this policy.

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