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Farmers protest not only impacting economic recovery but putting huge dent to supply chain: CII
The current agitation by farmers has led to supply chain disruptions, which will impact the economy in the coming days and may impinge upon the ongoing recovery from the economic contraction due to COVID-19, industry body CII said on Monday. Given the challenge to get the economy back on the growth trajectory, Confederation of Indian Industry urges all the stakeholders to urgently seek ways to end the ongoing protests and reach an amicable solution, in the interest of industry and economy, CII said.Â
» Farmers Protest Causing Daily Loss of Rs 3,000-3500 Crore to Economies of Punjab, Haryana and HP
1-MIN READ Farmers Protest Causing Daily Loss of Rs 3,000-3500 Crore to Economies of Punjab, Haryana and HP
Farmers at Singhu border during their sit-in protest against the Centre s farm reform laws, in New Delhi, Monday, Dec. 14, 2020.(PTI Photo)
Around two-thirds of consignments in transit are taking 50 per cent extra time to reach their destinations in Punjab, Haryana, Rajasthan and Delhi-NCR, ASSOCHAM said.
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Industry body ASSOCHAM on Tuesday said the ongoing protests against the farm reform laws are dealing a big blow to the interconnected economies of the region, including Punjab, Haryana and Himachal Pradesh.
Apex industry chambers on Tuesday called for an early end to the deadlock over the new farm laws, stating that the protests are disrupting supply chains and affecting the post-Covid economic recovery.
Attention is being drawn to the wider economic impact at a time the Prime Minister has been trying to project the farmers’ grievances and agitation as an isolated (“Dilli ke aas-paas”) phenomena.
The Confederation of Indian Industry (CII) estimated that around two-thirds of the consignments in transit are taking 50 per cent extra time to reach destinations in Punjab, Haryana, Rajasthan and the Delhi-National Capital Region.
In addition, freight carriers are forced to travel up to 50 per cent longer to reach Delhi from the warehouses in Haryana, Uttarakhand and Punjab. “This may push logistics cost by up to 8 to 10 per cent. Many companies in the industrial belt surrounding Delhi are facing labour shortages as people struggle to reach production facilities from neighbouring to
December 15, 2020
× While the government maintained that the farmer protests have only minimally impacted the economy, industry leaders on Monday said the current agitation by farmers in many parts of India has led to disruption in supply chains and logistics. They urged the government and protesting farmers to find an amicable solution for the sake of the economy, which is already struggling to get on a growth trajectory amid the Covid-19 pandemic.
The protest will have a bearing on the economy over the coming days and may impinge the ongoing recovery from the economic contraction due to Covid-19, said the Confederation of Indian Industry (CII) in a statement.
Updated Dec 15, 2020 | 12:35 IST
Industry body ASSOCHAM said, the ongoing protests are dealing a big blow to the interconnected economies of the region, including Punjab, Haryana and Himachal Pradesh. Representational image
New Delhi: The ongoing agitation by farmers has led to supply chain disruptions, which will impact the recovery from the current economic contraction due to COVID-19, industry body CII said on Monday. Given the challenge to get the economy back on the growth trajectory, Confederation of Indian Industry urges all the stakeholders to urgently seek ways to end the ongoing protests and reach an amicable solution, in the interest of industry and economy, CII said.