: Traders support lock down extension; CAIT says about Rs 3 .15 lakh crore retail business loss in India in last 21 days #FinanceIndia #StockMarketNEWS Traders support lock down extension; CAIT says

@StockMarketNEWS Wed 15 Apr, 2020

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Traders support lock down extension; CAIT says about Rs 3 .15 lakh crore retail business loss in India in last 21 days #FinanceIndia #StockMarketNEWS
Traders support lock down extension; CAIT says about Rs 3 .15 lakh crore retail business loss in India in last 21 days New Delhi, Apr 14 (KNN) Coming out in support of Prime Minister Narendra Modi’s decision to extend lockdown till May 3, 2020, the Confederation of All India Traders (CAIT) has however pointed that the traders will be the worst sufferers of the lockdown.

The trading community said it stands with the government in solidarity supporting the ‘Nation first Before Self’ ideology.

CAIT has assured the Prime Minister that the traders under any circumstances will continue to run supply chain of essential goods in a most efficient and effective manner so that citizens of the country may not face any difficulty in procuring essential commodities for their daily needs.

Due to the lockdown of past 21 days in the country, the Indian retail trade has suffered a loss of business to the tune of Rs 3.15 lakh crores.

Praveen Khandelwal, Secretary General of CAIT said that there are about 7 crore traders in the country out of which about 1.5 crore traders deals in essential commodities, but only 40 lakh of them have been able to continue the supply chain of essential commodities across the country because of facing several difficulties in obtaining passes from the authorities and non-availability of transport.

On the other hand nearly 80 percent of employees of traders have migrated to their villages before the lock down while only 20 percent of employees are working with traders for supply of essential goods, CAIT said.

Keeping in view the extension of lockdown, it is more necessary to enhance the number of shops considerably dealing in essential commodities so that people in general may not suffer in procuring their daily needs, the traders body pointed.

The CAIT has urged the Government to mechanize a uniform system across the country for smooth availability of curfew pass to the traders dealing in essential goods and their employees in order to ensure availability of sufficient mode of transport for movement of goods. (KNN Bureau)