Confederation of All India Traders (CAIT) said that such a step will usher structured growth of retail trade and will accelerate the economy.
“CAIT in a communication to Prime Minister Narendra Modi has also suggested that foreign trade should be transferred to Ministry of External Affairs,” CAIT said in a statement.
So far the retail trade in India does not have any policy neither any individual ministry, it said.
“It is requested that a National Trade Policy for Retail Trade may be formulated and a separate Ministry may be constituted,” it added.
It has also urged for the formation of a Board of Internal Trade under Ministry of Commerce to work as a developer and regulator of retail trade in the country.