Published
Apr 15, 2020
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Retail trade has lost Rs 3.15 lakh crore due to lockdown: CAIT

Published
Apr 15, 2020

India’s retail traders have suffered a loss of Rs 3.15 lakh crore ($42.6 billion) due to the ongoing lockdown, according to the Confederation of All India Traders. The organisation still supports the extended lockdown. 

CAIT has voiced its support for the government’s lockdown extension - Alto Nivel

 
Despite losses of Rs 3.15 lakh crore, CAIT announced that its organisation and its member traders support the government’s decision to extend the nationwide lockdown until May 3, the Press Trust of India reported. The government announced that lockdown restrictions may be relaxed in some areas of the country without confirmed coronavirus cases from April 20 and the definition of ‘essential goods’ will be widened to support those working and studying from home. 
 
The traders’ body reported that, of its seven crore traders nationwide, around 1.5 crore traders are engaged in ‘essential’ businesses. However, only around 40 lakh of these essential traders have been able to keep their businesses open due to difficulties in obtaining necessary passes and transport hold-ups, according to CAIT. Despite this challenge, CAIT assured the government that its traders will continue to operate their supply chains in the most efficient way possible.  

“On the other hand nearly 80% of the employees of traders have migrated to their villages at the time of earlier lockdown while only 20% of employees are working with traders for supply of essential goods,” CAIT said in a statement, the Press Trust of India reported.

The organisation is working to increase ease of doing business during this challenging situation. 
 

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