FICCI President Dr Sangita Reddy said on Tuesday that the Indian industry welcomes the Prime Minister Modi's decision to extend the lockdown to check the spread of coronavirus, till May 3, and plan for a graded opening up.
“We feel that the strong and timely measures and an integrated approach taken by the government, including the 21-days national lockdown, greatly helped in keeping the growth of this pandemic under control. This also explains why India is in a relatively better position today compared to many other countries across the world,” she added.
Dr Reddy explained, “Estimates show that India may be losing close to 40,000 crore daily due to the national lockdown with an estimated loss amounting to Rs 7-8 lakh crore during the past 21 days. It is also expected that close to 40 million jobs are at risk during the period April-Sept 2020.”
She said, “The Prime Minister’s directions on graded opening will help start some production activity to ensure that as soon as the lockdown opens, there are no shortages faced.”