Business

CAIT: The effect of Corona started showing again, 45 percent drop in business across the country

Omicron Cases in India: The increase in the cases of corona third wave across the country and the restrictions imposed by many states is directly affecting the business and economic activities of the country, due to which the trade of various goods across the country has been around 45 percent in the last 10 days. has decreased. The Confederation of All India Traders (CAT) said that the total retail trade in the country is Rs 125 lakh crore.

carry on business activities
The Confederation of All India Traders (CAIT) has asked the Central Government and the Chief Ministers of all the states to take all possible steps to prevent corona, but there can be no two opinions on this. With the restrictions, any step should be taken keeping in mind that business and economic activities should also go on smoothly.

45% drop in business
CAT’s National President BC Bhartia and National General Secretary Shri Praveen Khandelwal said that due to various restrictions of Corona, there has been an average decline of 45 percent in the business of the last ten days across the country. The buyer coming from outside the city is not going out of his city, whereas the consumers are also going to the market to buy goods only when needed to do retail purchases. Due to this double whammy, the business of the country has started getting disturbed badly, on which the central and all the state governments need to pay attention.

visible effect of restrictions
CAT Research and Trade Development Society, the research organization of CAT, has given the status of “Distribution Center” by CAT in 36 cities of different states of the country from January 1 to January 6. In this, a survey was conducted among the traders regarding the increasing nature of Corona and the impact of the restrictions imposed by the local administration on the business, from which it was found that the domestic trade of the country has declined by an average of about 45 percent in the last week.

effect of third wave
The main reason for this decline is the panic among people due to the third wave of Corona, non-availability of buying goods from neighboring cities at the distribution center, money crunch with traders, large sums of money getting stuck in credit and also in a random manner without consulting traders. Including the imposition of covid restrictions.

Know how much the fall can come?
It was broadly told by CAT that 35 percent in FMCG, 45 percent in electronics, 50 percent in mobile, 30 percent in daily consumption items, 60 percent in footwear, 30 percent in jewelry, 65 percent in toys, gift items 65 per cent in builder hardware, 40 per cent in sanitaryware, 50 per cent in apparel, 30 per cent in apparel, 25 per cent in cosmetics, 40 per cent in furniture, 40 per cent in furnishing fabrics, 35 per cent in electrical goods, 45 per cent in suitcases and luggage, food grains Business is expected to decline by 20 percent, kitchen appliances 45 percent, watches 35 percent, computers and computer accessories 30 percent, stationery up to 35 percent.

Know how much business can be in the coming months?
Along with this, the business of the wedding season which will start from January 14 on the day of Makar Sankranti and which was estimated to have a business of about Rs 4 lakh crore in the next two and a half months, due to the restrictions imposed by various governments on people joining this business. Directly there has been a decline of about 75 percent. Now it is estimated that in the next two and a half months in this business vertical, there is a possibility of business of about Rs 1.25 lakh crore only.

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Shivam Bangwal

Shivam Bangwal is a young entrepreneur who is professional full time tech, travel and coding enthusiast with a post graduation degree of Master's of Computer Applications. He is a founder of Youthistaan, People News Chronicle, Branding Panther and Digital Leader.

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