The Associated Chambers of Commerce and Industry of India (ASSOCHAM) has called for incorporating internal
trade policy reforms in the second generation reform agenda to double the contribution of internal trade to GDP to Rs 44,3046 crore by 2005.
A seamless, frictionless and borderless common Indian market is the sine qua non for raising the share of internal trade to GDP and doubling its employment potential which are currently stagnating at Rs 24,8106 crore and 6.7 per cent respectively, says an ASSOCHAM paper on the imperatives for achieving a common Indian market.
The modalities of removing the irritants in the way of internal trade will be discussed in depth at the seminar on 'towards common Indian market' organised by ASSOCHAM on Tuesday. The seminar will be inaugurated by Minister for Consumer Affairs and Public Distribution, Shanta Kumar.
According to ASSOCHAM, domestic trade sector suffers from lack of a comprehensive policy. Complex, restrictive, archaic laws, multiple regulatory agencies and ad-hoc changes have turned the activity into a high cost one. Lack of formal credit and adequate infrastructure
also act as deterrents.
Bureau Report
