NITI AAYOG TO SPELL OUT POLICY TO UPGRADE INDIAN RETAIL TRADE

The Confederation of All India Traders (CAIT) has gone through statement of Shri Amitabh Kant, CEO, Niti Aayog,appeared in media about " Brick & Mortar Business will be dead by 2023". The views expressed therein by him regarding adoption of technology by Brick & Mortar Shops timely will enable them to remain in the market seems to be an advise for future mode of business in India. It is sad that retail trade which is called as backbone of economy has been neglected so far by one and all and circumstances and policies are being crafted in a way that it dies it's natural death and market is taken over by MNCs. Such love towards MNCs is beyond any doubt speaks mindset of the policy makers. Creating an hype of necessity of FDI in retail trade and in e commerce is a part of sinister agenda of a particular lobby which is working against domestic trade and want to create several East India Companies once again to capture our trade. We will not let this happen at any cost and prepared to fight it out tooth and nail. However, up gradation and modernisation of retail trade is all the more necessary and it was expected that Govt will initiate any step in this direction but so far Govt has failed to take any step to protect retail trade but Having an eye on future mode of business, the CAIT has already launched a nationwide campaign among trading community across the Country on the above subject as also adoption of Digital payment in association with MasterCard and HDFC Bank. However, we feel that support policies from the Government is the need of the hour for encouraging the brick & mortar shops for adoption of technology on one side and also an awareness drive among the Consumers to prefer Digital payments. It will also help in curbing flow of black money in different sectors and at different levels. Since Mr Kant has come out with a bold statement, it is imperative upon the Niti Aayog to draw such policies especially when it's CEO is forecasting future style of business in India.