Business bodies in Gujarat have already urged the Election Commission that traders with requisite proof that money is not be misused during the elections should be allowed to carry out business as usual
The move by election watchdog to cap the cash to be carried by anyone at Rs 50,000 at the time of elections has hurt the textile business in Surat as the traders coming from other states has drastically decreased, say local traders.
Business bodies in Gujarat have already urged the Election Commission that traders with requisite proof that money is not be misused during the elections should be allowed to carry out business as usual.
"Traders from across the country come here to buy textile products. As the business is in cash, the restriction by the Election Commission has prevented traders from other states to come to Surat. The business has already halved and this latest move has aggravated the problem," said Kamlesh Chopra, a trader in Tirupati Textile Market of Surat, one of India's major hub for wholesale business in textiles.
Ramratan Bohra, President of Tirupati Textile Market Maintenance Association said that in Surat the business in Surat is predominantly in cash and so it is affected. Gujarat's apex body for trade and industry, Gujarat Chamber of Commerce and Industry (GCCI) had earlier written to the Election Commission that while the democratic process of election is critical for the country and there is a consensus that no one should be able to gain unfair advantage using money power, those traders carrying cash should not be harassed. "Normal business activity should not be disrupted because of elections. If one has sufficient proof that the cash is for business purpose only, there should be no punitive action," GCCI President Shailesh Patwari had then told media persons.
However, the situation in Ahmedabad market is different as now transactions have gone digital, said Arpan Shah, Vice President of Gujarat Garment Manufacturers Association (GGMA). "Now most of the payment is through RTGS. So there is not much impact in Ahmedabad because of the cap," said Shah.
POLLS AND BIZ
However, the situation in Ahmedabad market is different as now transactions have gone digital, said Arpan Shah, Vice President of Gujarat Garment Manufacturers Association (GGMA).
Business bodies have already urged the EC that traders with requisite proof that money is not be misused during the elections.
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