Widespread violence in Gujarat after the Mahakranti Rally of Patels for OBC quota not only cost 11 lives, but also over Rs40,000 crore to the business and industry due to Statewide Bandh from August 25 to 28.
Sources associated with trade and industries of Gujarat said that trading activities remained completely shut during the three turbulent days. Trading of garment, textile, electronic, timber and other major markets remained closed and incurred heavy loss.
“On the day of Patel rally at GMDC ground, only trading businesses were impacted and nearly Rs3,500 crore loss was incurred. However, following two days were horrible as most of the manufacturing units too remained closed. Workers couldn’t reach factories. Cumulative loss for the next two days was around Rs30,000 crore,” said Jayendra Tanna, president of Gujarat State Traders Federation.
According to GCCI president Rohit Patel, the bandh resulted into heavy production loss to manufacturing units. “There are more than 150 industrial estates under Gujarat Industrial Development Corporation (GIDC) and nearly one lakh units are functional in these estates. Most of them remained closed for at least three days,” said a senior official with GIDC.
Arvind Gajera of Federation of Industries Association (FIA) informed that it was a double whammy for the industrial sector due to paralysed transportation during the period as supply of raw material and dispatch of final products hampered. He, however, said that there are over three lakh SMEs and most of them suffered due to unrest in the State.
Financial institutions including banks also remained closed due to violence and subsequent curfew in the parts of Gujarat. During normal day, transactions worth Rs15000 crore take place in the State. These all financial activities were standstill for at least two days. Same is the case with buzzing bullion market. Jewelers too complained of loss of over Rs100 crores alone in Ahmedabad.
Worst hit parties include Internet Service Providers (ISPs) as internet services on mobile phone have been banned since Wednesday in order to curb rumours and control violence. The State administration is expected to lift ban on mobile data from Monday. Even SMS services have also been banned.
Thousands of diamond cutting and polishing units in Surat and parts of Saurashtra remained closed for two days. Especially, Surat which is considered as the world’s biggest diamond cutting and polishing hub suffered estimated loss of over Rs3,000 crore.
