Daily loss of Rs 3500 crores due to farmers Protest says Assocham

Industry chamber Assocham said on Tuesday that the economy of Punjab, Haryana, Himachal Pradesh and Jammu and Kashmir is getting hurt due to the farmers’ movement. The Assocham has urged the Center and farmer organizations to remove the deadlock over the new agricultural laws soon.

According to rough estimates of the industry body, the movement of farmers has affected the value chain and transport of the region, causing a loss of Rs 3000-3500 crores daily. Assocham President Niranjan Hiranandani said, the collective size of the economies of Punjab, Haryana, Himachal Pradesh and Jammu and Kashmir is around Rs 18 lakh crore. Economic activities have come to a standstill as farmers protest, road, toll plazas and rail services are closed.

Earlier, the Confederation of Indian Industry (CII) on Monday said that the supply chain was disrupted due to the farmer movement. It will have an impact on the economy in the coming days. This may also affect the revival of the economy.

Hiranandani said that industries such as textiles, auto components, bicycles, sporting goods will not be able to meet their export orders before Christmas, affecting their image among global companies.