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Trade unions strike to cost up to Rs 18,000 cr to economy: Assocham

Sentinel Digital DeskBy : Sentinel Digital Desk

  |  3 Sep 2016 12:00 AM GMT

New Delhi, Sept 2: The loss to the economy is estimated at between Rs 16,000-18,000 crore from the daylong all-India strike called by central trade unions on Friday that affected trade, transport, key manufacturing facilities and banking services, a top industry lobby said. The effect was most felt in Kerala, Kartaka, Tripura, Harya and Uttar Pradesh besides other parts of the country. While the strike had a limited impact in Delhi, Mumbai and Kolkata, the entire trade chain got hit with the disruption, Assocham (Associated Chambers of Commerce and Industry of India) said in a statement. Lamenting the fact that India can ill-afford strikes and bandhs as it needs to ramp up its Gross Domestic Product (GDP) growth by boosting manufacturing and other key sectors like services, the chamber said reports of production halts in public and private sector firms along with stoppage of transport services would damage the pace of growth. (ians)

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