Strike effect: Industry in Punjab incurred ₹500-cr loss in a day

WHILE LARGE AND MEDIUM-SCALE UNITS REMAINED SHUT, SOME SMALL-SCALE UNITS OPERATED WITH THEIR SHUTTERS DOWN

LUDHIANA: The Bharat Bandh call that received an unprecedented response in Punjab on Monday, caused a loss of around Rs 500 crore to the industry in the state.

While large and mediumscale units remained shut, some small-scale units operated with shutters down. In most parts of the state’s industrial hub Ludhiana, labour was unable to reach the factories. Businesses and all transactions were hampered as banks and commercial establishments remained completely shut till 4pm.

A large section of industry extended its support to the farmers but there were many who were left fuming and have decided to not to extend support to such protests in future.

“The estimated losses faced by the industry due to the bandh are close to Rs 500 crore. We have decided that we will not be part of the bandh next time. The police and the entire government machinery support the bandh and it’s the common people who suffer. It was a Monday and after two days of bank holiday, all financial transactions get affected. The industry had already suffered enough since the last year due to Covid-induced lockdown and the farmers protest. There is a limit to how much we can bear as the industry has been taken for granted to support the farmers while no one thinks about us,” said Badish Jindal, president of the Federation of Punjab Small Industries Association (FOPSIA).

Pankaj Sharma, general secretary, Chamber of Commercial and Industrial Undertaking (CICU), said almost all factories remained shut as a precaution, fearing backlash from farmers and other protesters. “There should be an open space or a ground to hold such protests outside the city. Protesters can sit there, hold press conferences and enter the grievances in the record book. The govt representative should go there and receive their memorandum. Why disrupt the daily life which affects the economy?” he asked.

Sharma also said that a lot many people blocking the roads have nothing to do with farm Laws. Some of them are factory workers who are allured on the pretext of free food, he said, adding that shutdowns in all forms should be condemned by all. It is high time politicians stop taking common man for a ride, Sharma said.

Amit Thapar, president of Ganga Acrowools and vice-president, Confederation of Indian Industry (CII), Punjab, said: “I cannot support any cause which denies me my right to livelihood. Disruption is not a solution and you can’t force people to shut their businesses.”