Industry body PHD Chamber of Commerce and Industry (PHDCCI) said on Friday that a prolonged period of the farmers’ protest could cause ‘serious damage’ to trade and industry in the northern states. The industry body says that there is a possibility of huge loss of employment due to the farmers’ movement and it will cause economic loss of more than Rs 500 crore per day. Sanjeev Aggarwal, president of PHD Chamber of Commerce and Industry, said, “The prolonged agitation will cause an economic loss of Rs 500 crore per day. “The fourth quarter gross state domestic product (GSDP) of northern states mainly Punjab, Haryana and Delhi will be impacted.”
What did the industry body say?
He said that the industry body expects early resolution of the issues from both the government and farmers with consensus for the welfare of everyone in the country. Aggarwal said the farmers’ agitation is seriously affecting businesses in Punjab, Haryana, Delhi and parts of Uttar Pradesh and Rajasthan, the Ministry of Micro, Small and Medium Enterprises (MSME) said. The raw material of such units is largely purchased from other states to execute the production processes and meet the demand of the consumers. The biggest hit will be on MSMEs of Punjab, Haryana and Delhi.
How was the farmers’ movement on Friday?
He said, “The combined GSDP of Punjab, Haryana and Delhi at current prices is estimated to be Rs 27 lakh crore in 2022-23. There are around 34 lakh MSMEs in these states which employ around 70 lakh workers in their respective factories.” Let us tell you that thousands of farmers moving from Punjab towards Delhi have been stopped by the Haryana administration at the Shambhu border. Many times violence and clashes were seen between farmers and police. However, on Friday, once again the farmers tried to move towards the barrier on the Shambhu border, after which the police again fired tear gas shells to disperse them.
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