Trade & Commerce

India is thought to be a country of sharp contrasts and this can also be seen in the way sale and purchase of both moveable and immovable goods, commodities, assets and services take place throughout the country. Businesses in India are often categorised as formal and informal. This is also the case with the trading of most goods and services. Certain practices that may well look to be antiquated can still be around. This is thought to be the case with mostly informal sector. For example, most of the agriculture is thought to be in the informal sector. It is also called to be unorganised sector. This is reflected at every stage of agricultural process right from sowing to harvesting ripe crop and to its marketing. Efforts towards formalisation of unorganised sector, including trade and commerce that this results into have so far met with only partial success. One of the results of this is that the informal sector and many functions related to it remain largely or barely taxed limiting government’s reach and resources greatly.

Thus, the domestic trade and commerce needs redefining to make it more viable where Government is suitably taken along to ensure better rewards for those engaged in trading at all levels. Besides this, reforming this sector is also called for to augment exports of goods and services beyond the confines of the country. ICPRD is deeply engaged in observing the urgent needs of the trading sector with the intention to show the best possible way out for the much needed reforms that it calls for.