Retail, wholesale traders incur loss of Rs 6.25 lakh crore in April 2021 due to Covid restrictions: CAIT

Around 8 crore traders in India have suffered a cumulative business loss to the tune of Rs 6.25 lakh crore during April due to multiple Covid restrictions including lockdowns, curfews, etc., enforced by state governments, according to the apex body for traders’ community, Confederation of All India Traders (CAIT).

In a statement issued by CAIT, it said, “Our data is sourced from over 40,000 associations representing around 8 crore traders under its umbrella. The total business loss in the Country due to Covid pandemic stands at about Rs 6.25 lakh crore for the month of April…The cumulative revenue loss to the government stands at about Rs 75,000 crores.”

Out of the total business loss of Rs 6.25 lakh crore, there was an estimated business loss of about Rs 4.25 lakh crore to retail businesses whereas wholesale trade suffered a loss of around Rs 2 lakh crore, according to CAIT.

The confederation on Sunday in a communication sent to Prime Minister Narendra Modi urged for a national lockdown to control the pandemic. It also requested for setting-up of a ‘Pediatric Task Force’ to counter the third wave where children could also get infected.

The lockdown restrictions may cost at least around 40 per cent of the monthly earnings of micro retailers. If there is a complete and prolonged lockdown across the country then stores retailing non-essential goods and services will be reduced to zero revenue and would have to shut down,” traders fear. 

India has been reporting over 4 lakh cases each day even as the numbers are slowly showing signs of decline. While Tamil Nadu, Karnataka, Kerala, Bihar, Delhi are under complete lockdown, states including Maharashtra, Punjab, Uttar Pradesh, Jharkhand, Gujarat, Telangana etc., have announced stricter restrictions and weekend or night curfews, etc.

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