The National Traders’ Welfare Board

Jul 29, 2019 | by Avantis RegTech Legal Research Team

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Commercial Compliance

The Ministry of Commerce and Industry on July 26, 2019, constitutes the National Traders’ Welfare Board. The Board shall consist of person capable of representing the issues of trader; having special knowledge of matters relating to the technical or other aspects of retail trade; and representatives of trade associations.

The main objectives are:

i. To identify policy measures to achieve the objective of welfare of traders and their employees. 

ii. To suggest simplifications in the Acts and Rules applicable to traders. 

iii. To make recommendations to reduce the compliance burden of traders. 

iv. To improve access to funds for traders. 

v. To make recommendations regarding social security benefits like insurance, pension, healthcare etc., for traders and their employees. 

vi. To make recommendations to address any other problems and issues of traders and their employees.

The Board shall meet at least once in every quarter. Quorum of the meeting shall be one-third of the total Members of the Board. The term of office of the Chairperson and Members of the Board other than the Official Members shall be two years from the date of appointment.

[Notification No. F.No. P-55015/2/2019-Internal Trade]


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