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CAIT claims a loss of Rs, 15.5L cr to Retail trade due to the virus

CAIT: The COVID-19 cases are increasing day by day, no one is sure when this pandemic will get over and normal life will run on the track. The coronavirus outbreak has affected almost all the sectors of the economy, in fact, some of the sectors are finding it almost impossible to return back in the game even after the pandemic gets over. Adding to the list Confederation of All India Traders (CAIT) on July 19 said that India’s retail trade has suffered a net loss of Rs 15.5 lakh crore within the past 100 days due to the coronavirus outbreak.

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Trader’s body – the Confederation of All India Traders (CAIT) stated that traders from all across the country are heavy-hearted because of several factors like fewer consumers, considerable lack of employees, ongoing financial crunch, and yet have to meet numerous financial obligations.

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The Confederation of All India Traders (CAIT) further claimed that “no additional support policy is provided from the side of the central or state governments and this is yet another notable factor which is haunting the domestic traders,”

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CAIT Secretary General Praveen Khandelwal said that the domestic trading system is going through its worst phase during this current century. This period is also reflecting that if immediate revival steps are not taken then nearly 20 percent of the domestic shops will have to close down their shutters permanently.

CAIT aims to bring the glory of Indian Traders in the mainstream of the nation and to create a business-friendly within the Country.

Some solution to the problem

This uncertain period along with complete lockdowns or limited movement in some places has made the job of retail traders very stressful. Shop opening times are interrupted and limited. So, in search of some relief, The Retailers Association of India (RAI) on Monday demanded all essential shops, including Kirana, general trade shops, supermarkets, to be allowed to operate till 9 pm on daily basis.

Also Read: The US remained India’s top trading partner for the second consecutive fiscal