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

Several states in the country have imposed strict lockdowns to reduce the rising number of Covid-19 cases. As a result of tighter lockdowns, traders in urban centres like Mumbai and Delhi are suffering massive losses.

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 (CAIT). 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. As a result of tighter lockdowns, traders in key urban centres like Mumbai and Delhi are suffering massive losses on a daily basis. Retail traders across the country have suffered a business loss of Rs 3.5 lakh crore, while wholesale traders have faced losses worth Rs 1.5 lakh crore. The loss of business has been estimated by CAIT’s research and trade development society in consultation with merchant organisation of various states.