CURRENT AFFAIRS
CURRENT AFFAIRS
Description
The Department for Promotion of Industry and Internal Trade (DPIIT) hosted the inaugural meeting of the National Traders' Welfare Board (NTWB) on December 5, 2023, at Vanijya Bhawan in New Delhi. The board, chaired by Shri Sunil J. Singhi, is dedicated to advancing the welfare of traders and their employees.
NTWB's Objectives
The NTWB was established with specific goals in mind to help the government in-
Developing policy measures to benefit traders and their employees.
Suggesting changes to Acts and Rules that apply to traders.
Recommending steps to lessen traders' compliance burden.
Increasing traders' access to funds.
Advising traders and their employees on social security benefits such as insurance, pensions, and healthcare.
Providing solutions to additional challenges and issues that traders and their staff confront.
Board Of Directors Composition
A Non-Official Chairperson, up to 5 members with specialized experience in retail trade affairs, up to 10 members from Trade Associations, one Non-Official member from each State and Union Territory, and 9 Ex-officio representatives from Ministries/Departments comprise the Board. The Board's Convener is the Joint Secretary, DPIIT, who is in charge of internal trade.
The Board's Role And Purpose
The Board and its members play an important role in addressing issues that affect traders. The Board's diversified membership reflects its ability to effectively address the wide-ranging difficulties confronting the retail sector.
Introduction To ONDC
A presentation on the Open Network for Digital Commerce (ONDC) was also given at the meeting. Board members were encouraged to spread the word about this government initiative among the country's traders.
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