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'Farmers protest may impact economic recovery'
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SME Times News Bureau | 14 Dec, 2020
The disruptions in supply chains caused by the current agitation by
farmers in many parts of India will have a bearing on the economy over
the coming days and may impinge upon the ongoing recovery from the
economic contraction due to COVID, industry body CII said on Monday.
The
farmers' protest which has intensified over the past couple of weeks
has led to obstruction of traffic and road blockades across multiple
checkpoints in the northern states of Delhi-NCR, Punjab, Haryana, Uttar
Pradesh and Rajasthan, and in smaller measure, in many other states.
The already broken supply-chain which was recovering post the pandemic
induced lockdown has come under severe stress, CII said.
Due to
the situation, around two-third consignment in transit are taking 50
percent extra time to reach destination in states of Punjab, Haryana,
Rajasthan and Delhi-NCR. In addition, the transport vehicles are forced
to travel up to 50 per cent longer to reach Delhi from the warehouses
in Haryana, Uttarakhand and Punjab. The industry confederation said that
this may push logistics cost by upto 8 to 10 per cent.
Many
companies in industrial belts surrounding Delhi are facing labour
shortages as people struggle to reach production facilities from
neighbouring towns.
According to Nikhil Sawhney, Chairman, CII
Northern Region: "The ongoing farm agitation requires an immediate
amicable solution as it is impacting not only the economic growth but
also putting a huge dent to the supply chain which is affecting the
large and small industries alike."
"The effect of the agitation
is more acute for industries in hilly regions of Himachal Pradesh,
Uttarakhand and Jammu and Kashmir who are dependent on goods transported
by road. There is also uncertainty around the transportation of farm
products to the major markets of Delhi-NCR, it could lead to significant
losses to the farm sector in these states. Tourism, a major revenue and
livelihood source in these states, is likely to get adversely impacted
at a crucial time when the sector is looking forward to regaining some
momentum following the unlocking of the economy."
Given the
challenge to get the economy back on the growth trajectory, CII has
urged all the stakeholders to urgently seek ways to end the ongoing
protests and reach an amicable solution, in the interest of industry and
economy.
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