During the July 16-31 period, RAI said sales continued to witness degrowth across regions and company sizes with businesses having a turnover of Rs 20-300 crore were the worst affected in eastern India at 73 per cent delcine from last year.
Those having a turnover of above Rs 300 crore are most impacted in western India at 64 per cent decline. However, businesses up to Rs 20 crore turnover are showing better signs in northern India at only 35 per cent decline, it said.
Commenting on the development, RAI CEO Kumar Rajagopalan said, "With Unlock 3.0 now being rolled out across the country, there is a possibility of significant sales recovery for retail businesses. However, localised lockdowns, weekend curfews and not allowing formats like food courts and cinema halls to restart are creating roadblocks on the path to revival."
It is observed that in places where the local authorities have been supportive, there is confidence in the minds of consumers, he added.
"If the retail industry continues to be under pressure, it will have a serious rippling effect on other sectors such as manufacturing, entertainment and artisans among others," Rajagopalan said.
(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)
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