A number of reliance stores and Walmart outlets have suffered huge revenue losses as they are shut since past more than 3 months. This is due to farmers protest against the new farm laws wherein farmers from Punjab have camped on the streets in order to force Prime Minister Narendra Modi to repeal the laws as farmers believe that such laws would benefit corporates and not them.
Fears of farmers’ agitation in Punjab, home to many protest leaders, have stoked companies’ fears over vandalism and the safety of employees, prompting the closure of dozens of shops, store employees and industry. Reliance is estimated to suffer a loss of millions of dollars and Walmart is estimated to have lost more than 8 million dollars till now.
Also, many items, especially the perishable ones, stored in these stores would have passed their use-by date. Farmers sit outside the stores in protest and don’t let any employee or anybody else come in. The officials of the companies state that they are in a position to absorb these losses, but of the protest continues, it would be difficult for them then.
Recently, Court has ordered a temporary suspension of the farm laws as it sets up a panel to examine their complaints.