Updated By: LatestGKGS Desk
Union Government to soon launch a policy for internal trade
Union Government to launch policy to encourage internal trade in the country, need, implications
The Union Government will soon launch a three branched approach to encourage internal trade which includes Domestic Retail and Wholesale Trade.
This approach is needed as there are 460 million people in the country working as small businessman which collectively has an annual turnover of about Rs.30 lakh crore.
Advantageous to small businessman, Central Government
The existing policy system is advantageous to the foreign retailers and their Indian partners, the wholesalers and retailers working here have no advantage of the current scheme, therefore, there is a need for policy.
This three branched approach includes to establish a regulatory body for domestic trade, a board for internal trade and a complete policy for domestic trade in the country.
This policy will motivate the businessman and will create employment and will improve the financial condition of these small businessman.
This policy will also lead the Central Government’s schemes like Make in India, Digital India, Skill India etc.
