Retailers Association of India (RAI) has urged the government to offer immediate support to retail workers and businesses struggling under current lockdown regulations.
RAI stated, millions of micro, small, and medium enterprise suppliers are not currently receiving payment. The financial strain on businesses struggling with zero revenue and normal expenses during lockdown will lead many businesses to go bankrupt, the industry body said. This will both lead to unemployment and will adversely impact the exposures of financial institutions to the sector, it said.
The association believes, two most important and immediate steps that can prevent this industry from collapsing are to prioritize vaccination of the last mile workers and to urgently provide financial support measures, said Kumar Rajgopalan, CEO, RAI
A not-for-profit organization, RAI represents the rights of Indian retailers. Its members include chain store retailers, independent retailers, e-commerce retailers and retail service providers across India. The association is involved with retail advocacy, organizing conferences, knowledge-sharing initiatives and training programs.
