Retail sector is a pillar of Indian Economy: Saraswat

Retail sector is a pillar of the Indian Economy as it accounts for 10 per cent of the country's GDP, Niti Aayog member V K Saraswat said on Friday.

Saraswat further said the government has given a notice that now consumers can order non-essential commodities also, which will help to boost the retail and e-commerce industry to a great extent.

The country is under the lockdown, which is scheduled to end on May 3.

Participating in an event organised by PHD Chamber of Commerce, the Niti Aayog member also said that retail sector is growing due to robust demand, and this is one sector that cannot be lagging because as it caters to the daily requirement of the nation and feeds the economy in a big way.

Saraswat also said e-commerce will be a new driver to growth and will increase the capital and growth of manufacturing.

He pointed out thatit has been significantly aligned with the digital economy.

Saraswat noted that India will be one of world fastest growing e-commerce country in the world.