The 6th Meeting of the National Traders’ Welfare Board (NTWB) was held on 20th May 2025 at Vanijya Bhawan, New Delhi, marking a significant step towards shaping the future of India’s retail sector. This meeting brought together key stakeholders to discuss critical initiatives like the National Retail Trade Policy, the Vocal for Local campaign, and the role of digital transformation in empowering small traders and MSMEs.
Importance of Grassroots Participation in Retail Trade Policy
Shaping an Inclusive Policy
During the meeting, Shri Sanjiv, Joint Secretary of the Department for Promotion of Industry and Internal Trade (DPIIT), emphasized the retail sector’s pivotal role in driving India’s economic growth. He urged Board members to provide constructive and inclusive suggestions for the National Retail Trade Policy. The policy aims to integrate grassroots-level participation to ensure it addresses the needs of small traders and micro, small, and medium enterprises (MSMEs) effectively.
The retail sector, a backbone of the Indian economy, employs millions and contributes significantly to the GDP. The DPIIT’s focus on inclusivity ensures that the voices of small-scale traders are heard, fostering a policy that is both practical and impactful.
Key Announcements from Union Budget 2025–26
Support for Traders and MSMEs
Shri Sunil J. Singhi, Chairman of the NTWB, highlighted several trader-centric measures announced in the Union Budget 2025–26. These include:
- Simplification of regulatory processes to reduce compliance burdens.
- Financial assistance programs to support small traders and MSMEs.
- Infrastructure development initiatives to improve market access and logistics.
These measures reflect the government’s commitment to creating a conducive business ecosystem that empowers traders to thrive in a competitive market.
Promoting ‘Vocal for Local’ Initiative
Strengthening Indigenous Industries
A key highlight of the meeting was the renewed focus on the Vocal for Local initiative, aimed at promoting indigenous industries and locally manufactured goods. Shri Singhi called upon Board members to champion this movement across their respective States and Union Territories. All members took a symbolic pledge to act as ambassadors, ensuring the initiative’s widespread adoption.
The Vocal for Local campaign encourages consumers to prioritize Indian-made products, boosting local economies and reducing dependency on imports. This initiative aligns with the broader vision of Atmanirbhar Bharat (Self-Reliant India).
Digital Transformation for Small Traders
Embracing the Digital Economy
Shri Singhi emphasized the transformative potential of digital platforms like the Open Network for Digital Commerce (ONDC). He encouraged traders to adopt these platforms to enhance market access and increase income opportunities. The ONDC, a government-backed initiative, enables small retailers to compete in the digital marketplace by connecting them with a broader customer base.
Board members were urged to facilitate the onboarding of local traders onto digital platforms, ensuring their integration into the digital economy. This move is expected to bridge the gap between traditional retail and modern e-commerce.
Release of NTWB’s Special Magazine
Documenting Milestones
On 20th May 2025, a special magazine titled “Journey of the National Traders’ Welfare Board” was released during the meeting. This publication documents the Board’s milestones, initiatives, and achievements since its inception, serving as a testament to its commitment to trader welfare.
| Key Aspect | Details |
|---|---|
| Event | 6th Meeting of National Traders’ Welfare Board |
| Date | 20th May 2025 |
| Location | Vanijya Bhawan, New Delhi |
| Key Focus | National Retail Trade Policy, Vocal for Local, Digital Transformation |
| Chairman | Shri Sunil J. Singhi |
Engaging Stakeholders for Welfare Schemes
Action on Trade Representations
Shri Singhi informed that representations from trade associations and Board members have been forwarded to relevant Ministries and Departments for action. He invited further suggestions to enhance awareness and outreach of government welfare schemes designed for the retail sector.
Key Takeaway: The NTWB is committed to fostering an inclusive and digitally empowered retail ecosystem, with a strong emphasis on grassroots participation and local manufacturing.
Key Highlights of the 6th NTWB Meeting
- Date: 20th May 2025
- Location: Vanijya Bhawan, New Delhi
- Focus Areas: Formulation of the National Retail Trade Policy with grassroots participation, promotion of Vocal for Local, and adoption of digital platforms like ONDC.
- Budget Announcements: Simplified regulations, financial assistance, and infrastructure development for traders and MSMEs.
- Magazine Release: “Journey of the National Traders’ Welfare Board” launched to highlight achievements.
- Stakeholder Engagement: Representations forwarded to Ministries, with a call for further suggestions to improve scheme outreach.
This meeting underscores the government’s dedication to empowering small traders and MSMEs, ensuring they play a pivotal role in India’s economic growth. Stay tuned for more updates on initiatives shaping the future of Indian retail!