ENA Sectors 2020-05-25 09:52:11 <p><strong>New Delhi, May 25 (KNN)</strong> The Confederation of All India Traders (CAIT) has stated that the country's retail trade lost business worth Rs 9 lakh crore in the last 60 days, due to the nationwide lockdown to contain the spread of COVID-19 pandemic.</p> <p>''During the span of 60 days of national lockdown, the domestic trade has lost a business to the tune of about Rs 9 lakh crore, causing a revenue loss of about Rs 1.5 lakh crore to both the central and state governments on account of GST,'' said CAIT Secretary General Praveen Khandelwal in a statement.</p> <p>The traders are facing acute financial crunch, and in absence of any policy support from the government, they are worried about future of their business, he said.</p> <p>The traders' body further said that shops and commercial markets across the country since last Monday could register only about 5 per cent of business, and only 8 per cent of workforce could resume their duties in shops after migration of about 80 per cent employees to their native places.</p> <p>CAIT expected nearly 20% of workers who are local residents to join the workforce again.</p> <p><iframe frameborder="0" height="500" id="mgiframe" src="//mg.mgid.com/mghtml/framehtml/c/k/n/knnindia.co.in.338951.html" width="100%"></iframe></p> 25128 https://knnindia.co.in/news/newsdetails/sectors/retail-trade-lost-business-worth-rs-9-lakh-crore-since-lockdown-cait 2020-05-25 09:52:11 knnindia.co.in