The Government of India has proposed to have a National Retail Policy to create an “enabling environment” to streamline the growth of all retail formats, and consultations with stakeholders are underway to this effect. informed Parliament on Friday.
Minister of State for Trade and Industry, Som Parkash, in a written response to a question in the Rajya Sabha, said an enabling environment can be created by simplifying rules and regulations.
The retail policy is planned to eliminate the factors that hinder the growth of the retail sector. This will also support the development of the sector which will benefit 65 million small traders, apart from contributing significantly to India’s GDP, he added.
In response to a separate question, Trade and Industry Minister Piyush Goyal said the Center had approved the inclusion of Hyderabad Bengaluru Industrial Corridor (HBIC) under the Industrial Corridor Scheme in response at a request from Andhra Pradesh.
“The Government of India has also approved the development of Orvakal Node as part of the Hyderabad-Bengaluru Industrial Corridor.
“A consultant has been appointed for the development activity of the project, including the preparation of a detailed master plan and the preliminary engineering of the Orvakal node,” he said.
