e-commerce

Govt in the final stage of drafting e-commerce Policy: Som Parkash

Author Name: Basundhara Choudhury
Post Date: 2020-10-29
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Union Minister of State for Commerce and Industry Som Parkash has informed that the government is in the final stage of drafting the national policies for e-commerce, logistics , retail trade and industry.

“We are in the final stage of drafting a National Logistics Policy, New Industrial Policy, e-commerce Policy and National Retail Trade policy,” he said while addressing the virtual session of ”Ficci Massmerize 2020”.

The minister further informed that the government will extend all possible support to the e-commerce and retail industries through various policies.

“It (policies) is being formulated to support the development of the sector that will benefit 65 million small traders. These endeavours along with the support of the industry would help in contributing a significant chunk to India”s GDP,” Parkash said.

“The government has already launched a series of programmes to transform India into a global economic hub. The government works on the vision of minimum government and maximum governance.”

~Union Minister of State for Commerce and Industry Som Parkash

Trade, e-commerce and FMCG companies play a significant role in India along with catering to a large consumer base that offers numerous opportunities for every player in this sector.

In the last few years, the minister said there have been significant improvements in the ease of doing business ranking, which has been possible due to transformative measures taken by the government.

While shedding light about the retail industry, METRO Cash & Carry India Arvind Mediratta said that after the pandemic, customers want cashless and contactless shopping experience. They want the best of both worlds — both online and offline — a perfect association of digital and physical, he said.

“Every crisis catalyses a new wave of change and COVID-19 has led to the adoption of digital as the new way of life,”

~Sanjiv Mehta, CMD,HUL

Mr Mehta also addressed how omnichannel has had a tremendous impact and companies are trying to utilize these to give consumers a seamless experience across different channels.

“With safety, convenience and digitisation emerging as new themes, I look forward to Massmerize showcasing inventions, success stories and evolving business models as we seek to reboot the economy and nation at large,” said Amazon Seller Services Vice President (Finance) and CFO Raghava Rao whol believes that retail will have a fantastic opportunity to redeem and reinvent itself to serve customers and consumers in the pandemic.

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