Over Rs 500 bn lost due to truckers' strike, MSMEs worst affected: Assocham

Demands of the truckers also include the abolition of TDS, rationalisation of income tax and smoother functioning of the E-way bill

The ongoing countrywide strike by truckers has led to an estimated direct and indirect loss of over Rs 500 billion to the economy and the government and transporters should resolve the crisis through negotiations, an Assocham statement said on Friday.

Around 9 million trucks have been off the roads since July 20 with truckers protesting against high diesel prices, for removal of all toll barriers across the country and reduction of the third party insurance premium.

"Though the micro, small and medium enterprises (MSMEs) are worst affected, other sectors are also starting to feel the impact of indefinite strike, which has already caused direct and indirect estimated loss worth over Rs 500 billion to the economy," said the chamber's Secretary General, D.S. Rawat in the statement.

"While the government should pay heed to transporters' genuine demands as their operating costs have been rising exorbitantly, we would at the same time request the unions to call off their strike and focus on finding agreeable solution in the interest of industry as a whole."

Due to floods in various parts of the country, the supply of perishable items has already been disturbed and prices have gone up, he added.

Demands of the truckers also include the abolition of TDS, rationalisation of income tax, smoother functioning of the E-way bill, national permit for tourists and buses and abolition of the direct port delivery tendering system.