The government is in the final stage of drafting the E-commerce policy and National Retail Trade policy, PTI reports quoting the union minister Som Parkash. According to the PTI report, the Minister of State for Commerce and Industry said that the government will extend all support to the E-commerce and retail industries through various policies. “We are in the final stage of drafting a National Logistics Policy, New Industrial Policy, E-commerce Policy and National Retail Trade policy,” Prakash said.
“It (policies) is being formulated to support the development of the sector that will benefit 65 million small traders. These endeavours along with the support of the industry would help in contributing a significant chunk to India’s GDP,” he said.
Trade, e-commerce and FMCG companies have a huge presence in India along with a large consumer base that provides numerous opportunities for every player in this sector. “The government has already launched a series of programmes to transform India into a global economic hub. The government works on the vision of minimum government and maximum governance,” the minister said.