Traders demand National Trade Policy to regulate internal trade

Opposing the entry of big industrial houses in retail trade, the Confederation of All India Traders (CAIT) has demanded declaration of a National Trade Policy to regulate internal trade.

New Delhi, July 22 : Opposing the entry of big industrial houses in retail trade, the Confederation of All India Traders (CAIT) has demanded declaration of a National Trade Policy to regulate internal trade.

In a memorandum submitted to Prime Minister Dr. Manmohan Singh, the CAIT said, in view of the important role of internal trade in national economy the Government must adopt a National Trade Policy.

"In the current scenario when the Indian economy has been opened to the world and the Government is vehemently pursuing policy of economic liberalisation and globalisation, strengthening domestic trade has become a necessity," the CAIT said in the memorandum.

It further said that a National Trade Policy could only protect "internal trade from a pre-mature death".

The traders said the government should set up a 'special task group', comprising of officials and trade leaders, to draw modalities and parameters of the trade policy.

They said a trade commission on the pattern of Planning Commission should be constituted, which may be empowered to formulate National Trade Policy based on the inputs from the task group and monitor internal trade.

"After Agriculture, internal trade is the largest sector of employment generation. Its magnificent contribution to national exchequer remains undisputed even from Mughal era," said CAIT Secretary General Praveen Khandelwal.

ANI