A separate policy will be formulated for the retail framework to hit the online market

For the last four-five years, online market (e-commerce) companies have been jumping and plummeting. People are now turning to online shopping because of other benefits, including higher discounts. Retail shopping has come as a shock, especially since people in the age group of 3-5 years prefer online shopping.

The craze of online shopping has been adversely affected by the growing offline market, the retail structure. To overcome this adversity, the government has been conducting a separate policy for the purpose of promoting small traders / retail markets. The government is preparing a national framework for small retail stores.

The main objective of the scheme is to better meet the competition of e-commerce companies. The national retail structure includes a one-time registration fee, a soft loan for working capital and support for electronic payment. Work has already begun for this national structure. The retail sector is a state subject and each state has different policies for this sector. As part of this exercise, the Department for Promotion of Industry and Internal Trade has asked states to count such stores.

One million business enterprises contribute 5% to domestic trade in India's $ 1.8 trillion GDP. It is estimated that local trade employs 200 million people and it is showing annual growth of 5%.

Most states have a law for shops and establishments and stores are registered under that law. Registration policies of states, fees and other compliance may change. In some states, registration is annual and some have to register every five years.

The objective of this exercise is to reduce consistency, simplification and reduction of compliance. So that costs can be reduced. Online registration for lifetime registration is also under consideration. We are considering the problem and solution to the problem of small shoppers. They are also considering whether to offer soft loan and support for digital payment mechanism.

According to the Confederation of All India Traders, about 5% of such 30 million stores are not digitally enabled. Such companies were at the forefront of complaining against e-tailers. He accused the e-commerce companies of violating the rules of discount.

The National Trader Welfare Board will be expanded to make the whole process more comprehensive. The government approved a pension scheme for shopkeepers, retail traders and self-employed people, with the aim of providing financial support to those active in the retail sector. Thus, even now small traders are practicing to make business easier.