Business NewsNews

UP traders go on strike

Major traders’ associations across Uttar Pradesh observed a day-long strike on Friday in protest against foreign direct investment (FDI) in retail trade and also the Goods and Services Tax (GST).

The Uttar Pradesh Chemist and Druggist Association has also extended its support to the strike, demanding that the Centre put a cap on discounts allowed to online pharmacies, an office-bearer said.

More than 1 lakh shops across the state are closed as part of the protests, a traders’ association said.

The Communist Party of India (CPI) has backed the strike.

Banwari Lal Kanchal, President of the Uttar Pradesh Udyog Vyapar Mandal, said that the traders were facing serious problems due to the faulty rollout of the Goods and Services Tax (GST) and online trading was threatening retail traders due to which they have been forced to go on a strike.

Another trader leader Devendra Mishra said business for small-time traders was already suffering because of malls where shops are allowed to open every day of the week while that’s not the case for normal markets.

General Secretary of the chemists’ association, Suresh Gupta told that the margin of profits for wholesalers and retailers were dwindling due to unfair and uneven discounts allowed to online medicine suppliers.

Leave a Reply

Your email address will not be published. Required fields are marked *