The government's decision to bring internal and external trade under the commerce and industry ministry will ensure better coordination, and help in promoting growth of both segments of the trade, an official said.
The government Wednesday renamed the Department of Industrial Policy and Promotion (DIPP) as the Department for Promotion of Industry and Internal Trade (DPIIT).
With this, the issues concerning promotion of internal trade, including retail trade; welfare of traders and their employees; matters relating to facilitating ease of doing business; and startups will dealt by the DPIIT under the ministry.
Earlier issues related to internal trade was looked after by the consumer affairs ministry.
"Now, both the external and internal trade issues will be handled by one ministry," the official said.
Also Read
The DIPP was so far framing policies only related to foreign direct investment.
The move assumes significance as Commerce and Industry Minister Suresh Prabhu in April last year had asked the department of consumer affairs to frame national policy on retail trade.
Domestic traders' body Confederation of All India Traders (CAIT) too has time and again asked the government to set up a different department for internal trade and formulate policy for that.
According to them, over 6.5 crore small businesses are engaged in the sector across the country.
The department of commerce under the ministry deals with issues related to exports and free trade agreements.
Disclaimer: No Business Standard Journalist was involved in creation of this content
