The Hindu Business Line : Call for internal trade policy to help retail sector

BEFORE partially opening up the $190-billion retail sector in the country to foreign direct investment, the PHD Chamber of Commerce and Industry has urged the Government to evolve a comprehensive internal trade policy to promote internal trade in order to extend a level playing field to domestic retailers.

In a submission to the Finance Ministry, the Chamber has said that such a policy would act as a guiding principle to initiate short-term changes and thereby help in achieving the long-term objective of creating a common domestic market in the country.

The Chamber has emphasised that domestic trade has been subject to variety of constraints. A plethora of taxes have been imposed on the trade sector, which include central sales tax, octroi, entry tax and some other taxes, it said.

The Central and State Governments would have to synergise their efforts to ensure smooth working of trade in the country to minimise the transaction cost so as to enable the consumer to get good service at reasonable prices, it said.

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