AIAI fears extension of lockdown could lead to job, business loss

Extension ot lockdown in the Mumbai-Pune that accounts for a large percentage of trade, business and employment would have negative impact on economic growth, says the All India Association of Industries (AIAI).

More than 25 lakh people mostly in retail, small and micro units, maay of whom are daily wage earners will be left with no means of employment if lockdown continues, says AIAI president Vijay Kalantri.

"What the workers need is cash to buy their daily bread and they have no cash now," he said.

"Moreover, how are businesses going to pay salaries because of heavy cumulative losses," he said, adding that the MSME sector in Mumbai and Pune are worst affected.

The AIAI has called for phased withdrawal of lockdown and ensure survival of jobs and business.