CII urges trade unions to work with govt to resolve issues

Says economy already battling domestic, global slowdown and cannot afford anymore disruption

Expressing concern over the two-day nationwide strike, CII today urged the trade unions to make a concerted effort to work with the government to resolve the issues and revive the economy.

The chamber said the economy is already battling domestic and global slowdown and cannot afford anymore disruption. High inflation, which has of late shown signs of moderation, has provided room to RBI to cut interest rates, it said.

"At such a time, when conditions are becoming conducive for reviving the investment cycle, both the workers and industry should make a concerted effort to work with the government to revive the economy rather than create disruptions," CII President Adi Godrej said.

The strike has affected the economic, industrial activities and the services sectors like banking, finance and transport in most parts of the country.

Various industrial units and banks either remained closed or witnessed thin attendance, CII said.

"The strike has significantly disrupted economic and industrial activity in many parts of the country. Coming at a time when our economy is under the grip of a major slowdown, the current disturbance is likely to aggravate the prevailing situation," Godrej said.

Besides, the estimated economic loss of about Rs 20,000 crore, the disruptions have caused enormous hardships to the common man and industry alike, he added.

Worst affected are the daily wage earners, the small traders and small businesses, Godrej said.

The disruption in public transport has hurt people coming for work and would also affect movement of agriculture products and fuel inflationary pressures thereby serving to negate the very purpose for which the strike has been called, the CII statement said.

The 11 central trade unions have put forward a charter of 10 demands including steps to control price rise, strict enforcement of labour laws in all places of work, social security net for workers in the unorganised sector, end to disinvestment in PSUs and raising minimum wage to Rs 10,000 a month.