Retail sector loses a whopping Rs 5.50 lakh cr since lockdown; around 20% traders may pull down shutters, says CAIT
4 years, 8 months ago

Retail sector loses a whopping Rs 5.50 lakh cr since lockdown; around 20% traders may pull down shutters, says CAIT

Firstpost  

CAIT said the retail trade may see many more traders pulling down shutters as the sector has become unviable. Traders body, CAIT said the retail trade may see many more traders pulling down shutters as the sector has become unviable. The Confederation of All India Traders said on Tuesday that, ever since the lockdown was imposed on 24 March, the retail sector has lost approximately Rs 5.50 lakh crore and is likely to witness at least 20 percent of Indian retailers collapse and wind up their businesses in the next few months.In light of the same, the CAIT has urged Prime Minister Narendra Modi & Finance Minister Nirmala Sitharaman to handhold the trading community and award a substantial package to the traders to ensure their survival. This would translate to around a a massive loss of over 5.50 lakh crore of business carried out by around 7 crore traders since lockdown-25 March to 30 April, 2020.

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History of this topic

Market cracks as Fed Meet, Weakening Rupee and Widening Trade Deficit weighs on sentiment
3 weeks, 2 days ago

Market cracks as Fed Meet, Weakening Rupee and Widening Trade Deficit weighs on sentiment

New Indian Express  

India’s equity market fell sharply on Tuesday with the benchmarks – BSE Sensex and NSE Nifty50 – cracking nearly one and a half per cent each. Investors lost about Rs 5 lakh crore in a single session as the market capitalization of BSE-listed firms came down to Rs 456.59 lakh crore from Rs 461.33 lakh crore on Monday. Concurrently, the …

Covid-19: Trade worth Rs 5 lakh crore affected as lockdowns hamper businesses
3 years, 8 months ago

Covid-19: Trade worth Rs 5 lakh crore affected as lockdowns hamper businesses

India Today  

Strict restrictions imposed in various states due to the second wave of Covid-19 has led to a pan-India business loss of Rs 5 lakh crore, according to the Confederation of All India Traders. Several states have imposed strict lockdowns to limit the spread of Covid-19 during the deadlier second wave, which has overwhelmed the country’s healthcare system. Retail traders across …

COVID-19 Impact: Retail trade lost business worth Rs 9 lakh cr in 60 days; businessmen facing acute financial crunch, says CAIT
4 years, 7 months ago

COVID-19 Impact: Retail trade lost business worth Rs 9 lakh cr in 60 days; businessmen facing acute financial crunch, says CAIT

Firstpost  

CAIT said domestic trade is facing its worst period as shops and commercial markets across the country since last Monday could register only 5% of business, and only 8% of workforce could resume their duties in shops. COVID-19 has hit retail business with a loss of Rs 9 lakh in 60 days and about 40 percent of the six million …

Coronavirus Lockdown: CAIT urges govt to reconsider economic package, says traders let down by exclusion
4 years, 7 months ago

Coronavirus Lockdown: CAIT urges govt to reconsider economic package, says traders let down by exclusion

Firstpost  

Industry body CAIT has urged the government to reconsider the economic package and announce measures to support traders, saying the community feels let down for exclusion from the Rs 20 lakh crore stimulus to aid the economy reeling from the COVID-19 crisis Noida : Industry body CAIT has urged the government to reconsider the economic package and announce measures to …

Retail trade has lost Rs 3.15 lakh-cr during lockdown but support PM on extension, says traders body CAIT
4 years, 8 months ago

Retail trade has lost Rs 3.15 lakh-cr during lockdown but support PM on extension, says traders body CAIT

Firstpost  

There are about seven crore traders in the country, of which about 1.5 crore traders deal in essential commodities Noida: The retail trade has suffered a loss of Rs 3.15 lakh crore during the lockdown, the Confederation of All India Traders said on Tuesday, even as it “strongly supported” Prime Minister Narendra Modi’s move to extend the curbs to fight …

Traders may see 50 pc fall in festive sales, govt should check e-commerce: CAIT NCR
5 years, 2 months ago

Traders may see 50 pc fall in festive sales, govt should check e-commerce: CAIT NCR

India TV News  

Traders in Noida are fearing a decline of up to 50 per cent in sales during the Diwali festive season due to "unethical business" of e-commerce firms, and the government should intervene to check these companies, Sushil Kumar Jain, convener of the Delhi-NCR unit of CAIT said. With only a week left in Diwali, markets across Noida are deserted and …

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