‘Create separate Ministry of Internal Trade’c

Source: The Hitavada      Date: 30 Aug 2017 09:41:01


 

Business Bureau,

Taking a view of the vast unincorporated sector in the country consisting of 6.34 crore non-agricultural enterprises, but having neither a policy nor a separate ministry, the Confederation of All India Traders (CAIT) has pitched a demand for formulation of a National Trade Policy for retail trade and creation of a Ministry of Internal Trade. After agriculture, this sector is the largest one to provide employment and often described as only source of disguised employment.


As per a recent report of a survey conducted by National Sample Survey Organisation (NSSO) between July 2015 and June 2016, there are 6.34 crore unincorporated non-agriculture enterprises (excluding construction). About 51 per cent were located in rural areas and 49 per cent were located in urban areas. Out of the total number of enterprises, 31 per cent were engaged in manufacturing, 36.3 per cent were in trading and 32.6 per cent in other service sector. Own Account Enterprises that do not employ any worker has a dominant share of 84.2 per cent.


CAIT National President B C Bhartia said, “The analysis of the survey reflects true picture of retail trade in India and establishes the fact that this sector is having immense potential for giving a big push to economy, GDP and employment as well if a structured growth is ensured with support policies. Equally important is the smooth availability of formal financial assistance and technology to upgrade and modernise the existing business format.”


He said, “A Retail regulatory authority will be instrumental in devising and monitoring the retail trade, a part of this sector,” Beside urban areas, more emphasis must be laid to educate and aware the rural areas which has a big potential. Secretary General Praveen Khandelwal said, the survey revealed that about 11.13 crore workers were engaged in these enterprises out of which 34.8 per cent were engaged in trading, 32.8 per cent in other services and 32.4 per cent in manufacturing sector.


About 55 per cent worked in urban areas and 45 per cent worked in rural areas, he added. About 98.3 per cent of enterprises were perennial in nature whereas 1.3 per cent were seasonal and 0.4 per cent casual enterprises. During 2015-16, the aggregate Gross Value Addition by this sector was estimated at Rs 11,52,338 crore. In urban areas, it was 70 per cent whereas in rural areas the GVA was 30 per cent, Khandelwal said.
Survey was conducted in 8488 villages and 8939 urban blocks across the country. The total number of enterprises in which the schedule was canvassed was 1,43,179 and 1,46,934 in rural and urban areas respectively.