INR 3.15lakh cr lost in retail trade due to lockdown: CAIT
While supporting Prime Minister Shri Narendra Modi’s move to extend the curbs to fight coronavirus, the Confederation of All India Traders (CAIT) said that retail trade has suffered a loss of Rs 3.15 lakh crore during the lockdown. The trade body also assured the government that the traders will continue to run the supply chain of essential goods in a “most efficient and effective” manner so that citizens do not face any difficulty.
CAIT said that of the 1.5 crore traders in the country who deal in essential commodities, only 40 lakh of them have been able to continue operations because of difficulties in obtaining passes from the authorities and also non-availability of transport.
“On the other hand nearly 80 per cent of the employees of traders have migrated to their villages at the time of earlier lockdown while only 20 per cent of employees are working with traders for supply of essential goods,” according to the statement released by CAIT.