According to a survey commissioned by the Confederation of All India Traders (CAIT), traditional retailers in the country are in favour of converting into a modern format and expect the government to pave the way for modernisation by providing financial assistance and rationalising the tax structure.
According to the CAIT release, the survey, which was conducted in 18 cities, revealed that 82 per cent of the traders were inclined to transform their traditional business format by upgrading their existing business structure. Around 94 per cent traders opined that the government should initiate steps to form a national trade policy for small retailers and bring reforms in the taxation structure and other laws governing trade.
Nearly 87 per cent of the traders say that retail trade should be placed in priority, and the present banking system should facilitate financial assistance to traders without much paperwork. About 80 per cent wanted the government to focus on providing infrastructural facilities in commercial markets.