Retail trade suffers Rs 15.5 lakh crore business loss due to COVID-19: CAIT

India's retail trade has suffered a business loss of about Rs 15.5 lakh crore in past 100 days due to the COVID-19 pandemic, traders' body CAIT said on July 19. In a statement, the Confederation of All India Traders (CAIT) said traders across the country are depressed because of minimal of the consumers, considerable absence of employees, facing financial crunch and yet have to meet several financial obligations.

"No support policy from the central or state governments is yet another crucial factor which is haunting the traders," CAIT claimed.

CAIT Secretary General Praveen Khandelwal said the domestic trade is passing through its worst period in the current century which reflects that if immediate steps are not taken about 20 percent of the shops in India will have to close down their shutters.