Merchants need to modernize, digitize their business models: Smriti Irani

New Delhi: There is a need for the traders and merchants to modernize and digitize their business models, Union Minister Smriti Irani said on Monday.

"In the constantly changing business scenario, the merchants of our country need to transform, digitize and modernize their business models," Irani, who is also the Minister of Minority Affairs, said.

The Minister of Women and Child Development made the remarks while launching CAIT India Knowledge Mission in the national capital, the Confederation of All India Traders (CAIT) said in a statement.

The initiative will educate and assist the traders across the country to adopt new and modern technologies to their businesses. CAIT will organise both offline and online workshops across the country as part of the programme.

CAIT Secretary General Praveen Khandelwal said "in the last few years foreign e-commerce companies and big corporate companies are trying to take on the retail business." The mission has been launched to teach the traders and merchants the needs and benefits of digitization.

They will be guided with the use of digital payments in the businesses, changes to be made in the stock, customers' demand for types of products among others, he said.