Protests Against Farm Reform Laws To Cause Economic Loss Of Rs 70,000 Crore In December Quarter: PHDCCI

In a major assessment, PHD Chamber of Commerce and Industry (PHDCCI) has said that the ongoing protests against the three farm sector reform laws will lead to an economic loss of over Rs 70,000 crore in the December quarter, reports Economic Times.

PHDCII's president Sanjay Aggarwal said that the massive economic loss is on account of the disruptions in supply chain and day-to-day economic activities, especially in the Punjab, Haryana and border areas of Delhi.

Aggarwal also said that the sectors like food processing, cotton textiles, garments, automobile, farm machinery, information technology, trading, tourism, hospitality and transport have been severely impacted by the agitation which has disrupted supplies of many raw materials to the industry.

The assessment comes at a time when multiple rounds of talks between the Union government and the protestors have remained inconclusive. In the latest round of talks, the government had agreed to two of the four demands of the protestors, which include the removal for penalties on stubble burning and the Electricity Amendment Bill, 2020.