Moving towards the global value chain, the feds assure vital aid, urging retailers to modern technology

New Delhi, June 20:  “India cannot remain in isolation and will have to be part of the global value chain in order to become a USD 5 trillion economy”, said Commerce Minister Piyush Goyal while addressing the meeting with representatives of associations of kirana stores, traders and retailers in in the national capital.

 

 

Interacting with the representatives to engage them for discussions on issues of e-Commerce and explore the strengths and weaknesses of small traders, Goyal looked at the possibilities of small stores, traders and retailers who may benefit from an e-Commerce platform. He urged small traders and retailers to come on the GeM platform which has achieved Rs. 25000 crore turn over.

 

 

Representatives of the said associations meanwhile discussed the need for a level playing field and the impact of anti-competitive practices like predatory pricing amongst other discriminatory methods that are being faced by them from foreign competition.

Goyal however explained that by bringing in greater controls through rules and laws will only help up to a certain point, but for long term gain, short term pain will have to be borne. “India will not allow multi-brand retail by foreign companies and on the pretext of B2B no entry will be allowed for multi-brand retail”, he said adding that the Centre will give all support and assistance to small traders and retailers to grow their business.

 

Further urging the small retailers to make use of modern technology, he asked them to avail benefits of Central schemes like MUDRA to improve their business, spruce up their shops, improve stocks by storing high quality products and pass on the benefits to people employed by them.