Tuesday, January 26, 2021
No menu items!

Farmer protests may increase logistic costs by up to 10%: CII

Must Read

Michael Stuhlbarg Joins Hulu Limited Series Dopesick’

Los Angeles, Dec 15: “Your Honor” actor Michael Stuhlbarg has boarded the forged of Michael Keaton-led Hulu restricted...

Bengal Speaker Rejects Suvendu Adhikari’s Resignation, Says It Flouts Rules of House

File photograph of former TMC chief Suvendu Adhikari"Unless and until I am satisfied that the resignation is voluntary...

COVID-19 | Russia signs more deals with India to make 300mn Sputnik V vaccines

“In India, we have agreements with four large manufacturers,” Dmitriev, the pinnacle of the Russian Direct Investment Fund...

[ad_1]

The CII on Monday mentioned the continued farmers’ protests may lead to about 8-10% increase in logistics costs due to detours with consignments taking 50% longer to attain locations in States like Punjab, Haryana, Rajasthan and Delhi-NCR.

“The agitation by farmers in many parts of India has led to disruption in supply chains and logistics. This will have a bearing on the economy over the coming days and may impinge the ongoing recovery from the economic contraction due to COVID-19,” the trade physique mentioned.

“Around two-third consignments in transit are taking 50% extra time to reach destinations in the above States. In addition, the transport vehicles are forced to travel up to 50% longer to reach Delhi from the warehouses in Haryana, Uttarakhand and Punjab. This may push logistics cost by up to 8 to 10%,” it mentioned, including that many firms within the industrial belt surrounding Delhi are dealing with labour shortages as folks battle to attain manufacturing amenities from neighbouring cities.

Nikhil Sawhney, Chairman, CII Northern Region, mentioned, “The agitation requires an immediate amicable solution as it is impacting not only the economic growth but also putting a huge dent to the supply chain which is affecting the large and small industries alike.”

The impact is extra acute for industries within the hilly areas of Himachal Pradesh, Uttarakhand and Jammu and Kashmir that are depending on items transported by street. There can be uncertainty across the transportation of farm merchandise to the most important markets of Delhi-NCR. It may lead to vital losses to the farm sector in these States.

You have reached your restrict totally free articles this month.

Subscription Benefits Include

Today’s Paper

Find mobile-friendly model of articles from the day’s newspaper in a single easy-to-read checklist.

Unlimited Access

Enjoy studying as many articles as you would like with none limitations.

Personalised suggestions

A choose checklist of articles that match your pursuits and tastes.

Faster pages

Move easily between articles as our pages load immediately.

Dashboard

A one-stop-shop for seeing the most recent updates, and managing your preferences.

Briefing

We temporary you on the most recent and most essential developments, 3 times a day.

Support Quality Journalism.

*Our Digital Subscription plans don’t at the moment embody the e-paper, crossword and print.

[ad_2]

Source link

Latest News

Michael Stuhlbarg Joins Hulu Limited Series Dopesick’

Los Angeles, Dec 15: “Your Honor” actor Michael Stuhlbarg has boarded the forged of Michael Keaton-led Hulu restricted...

More Articles Like This