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“The Confederation of All India Traders (CAIT) in a communication sent to Finance Minister Nirmala Sitharaman has presented with deep regret that one of the largest and most committed segment of trading community in the Country has been omitted by wide reaching announcements of economic package. The trading community in India is comprised of 7 Core Traders including Retailers, Wholesalers, Distributors and others. The CAIT has sent similar communication to Union Home Minister Amit Shah, Defence Minister Rajnath Singh, Commerce Minister Piyush Goyal and Textile Minister Smriti Irani.”
“CAIT National President B. C. Bhartia and Secretary General Praveen Khandelwal in communication to Sitharaman lamented that while announcing the economic package, the Government has ignored the traders and the trading community is deeply agitated and having gross resentment for their utter exclusion in the economic package at a time when it was direly needed since traders of the Country will be forced to face serious challenges of financial crisis. The traders of India have stood firmly with the Government and the people of India in these troubled times to ensure continuous supply of essential commodities so that every citizen had substantial supplies during lockdown. The traders feel that the Government has let them down, by non- inclusion in the much awaited economic package.”
“They said that seven crore traders in the Country are conducting their business activities in urban, rural and semi rural areas. About 45% of traders are catering to the needs of rural India with very limited means and resources. The axe of lockdown will fall on them in a most brutal manner. It is reiterated that at the time of lifting of lockdown, the traders will have to meet various financial obligations like payment of salary to employees, payment of GST, Income Tax & other Government payment, EMIs, bank interest on loans taken by the traders and various other incidental expenses whereas on the other hand, normal credit extended by traders in B2B transactions will likely to accrue back not before 60 -75 days from the day of opening the markets. All such circumstances will land the traders in turbulent time of financial crisis and it is expected that in absence of any handholding of the traders by the traders about 20% marginal traders will have no other alternative but to close down their business establishments and rest of the traders will have to do great struggle for reviving their business activities.”
