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Bad impact on the industry as all inventories are stuck: Sandeep Jain

Sandeep Jain, Managing Director, Monte Carlo

Sandeep Jain Managing Director Monte CarloCoronavirus will have a bad impact on the industry as all inventories are stuck. Goods in transit are not being sold. Goods are stuck in warehouses, so there’s total loss. We plan to cut down our winter production depending on how long it goes on. We’ll have to sell more goods on discount. If this ends in April, it will be fine and if it prolongs to June, it will be very difficult for the industry. I think it should end by end of April, as the government has taken some measures for that. The measures announced by the finance minister are not much in favor of the industry. It’s more about regulatory compliances. If she had announced a package whether for interest of GST relief, it would have benefitted the industry more.”

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