The Department for the Promotion of Industry and Internal Trade (DPIIT) has been a national retail policy to support the growth of domestic trade, an official said.
This proposal is part of the 100-day action plan prepared for the department, under the ministry of commerce and industry, for the new government.
"A national retail policy was established to support the development of the sector that will benefit 65 million small merchants," the official said.
In February, the internal or internal trade issue was moved to a DPIIT of the Ministry of Consumer Affairs, which had previously been the official agency for the fast-growing sector.
The department is already in the process of e-commerce guidelines form and, therefore, is appropriate for the ministry of minority standards, the official.
The Confederation of All Merchants of India (CAIT) has been asked by the government for the policy. He said that these steps will not only strengthen domestic trade but also improve the performance of the country's exports.
According to CAIT, more than 6.5 million small businesses are involved in the sector throughout the country. The demand for the policy by the national merchants has become part of the multinational retail companies will enter the Indian markets and begin to offer large discounts of products.
According to the action plan, it is a large-scale program for the development of the capabilities of small business managers to improve productivity. The name of the Department of Industrial Policy and Promotion (DIPP) becomes a Department of Promotion of Industry and Internal Commerce (DPIIT) vides Statement of the Gazette No. SO 507 (S) Date January 27, 2019, the Department of Industrial Policy and promotion was established in 1995 and reconstituted in 2000 with the merger of the Industrial Development Department. The department operates under the Ministry of Commerce and Industry, Government of India. It is responsible for the formulation and implementation of promotion and development measures for the growth of the industrial sector, taking into account national results and socio-economic objectives. Although the individual administrative ministries deal with the production, distribution, development and planning aspects of the industries assigned to them, DPIIT is responsible for the general industrial policy. It is also responsible for facilitating and increasing foreign direct investment (FDI) flows to the country.
The investment network (IIG.) in partnership with Invest India, the national investment and facilitation agency of India. IIG is an online web portal that shows a menu of investment options across India on a single platform. The initiative not only allows investors around the world to search identify and easily track worthy investment projects, but also promoters.
By: Preeti Narula