Insurance cover likely for traders under new policy

The Department for Promotion of Industry and Internal Trade (DPIIT) will soon start public consultation for a national retail trade policy, which is likely to include an insurance scheme aimed at providing financial protection against losses caused by theft, accidents or natural calamities.

The policy will also spell out ways to give traders access to low-cost finance, promote digital inclusion, and create necessary infrastructure to support them, a senior government official told.

This is expected to offer relief especially to traditional traders, who are facing stiff competition from large e-commerce players. The former have accused some of these foreignfunded behemoths of adopting illegal market practices. The policy is being rolled out at a time when the government is looking to dilute a set of proposed rules that sought to tighten regulations in the e-commerce space.