Twin strikes cost exporters Rs 10,000 crore: FIEO

NEW DELHI: The strikes by truckers and oil PSUs executives have caused a loss of about Rs 10,000 crore to exporters as consignments are waiting at factories to be transported, the FIEO said today.

"Exporters have lost over Rs 10,000 crore because of the strikes as export consignments are either held up at factories or getting delayed," Federation of Indian Export Organisations (FIEO) President A Sakthivel said.

He said delay in consignments could lead to order cancellations or overseas buyers may ask for lower prices as compensation for missing delivery schedules.

The exporters' body today apprised Transport Minister T R Baalu about the problems being faced by them because of the strikes.

Meanwhile, industry body Assocham appealed to the transporters and oil sector staff to withdraw strikes immediately as they were causing problems to the common man and affecting the economy.

"The common man and the economy have become victims of the stir and the impact of all good measures initiated by the government to revive the Indian economy are being nullified (by) the continuing strike," Assocham President Sajjan Jindal said.

The strikes would push up the cost of essential commodities manifold and fuel inflation in the near future, which has started moderating to the single-digit level, he said.

Another industry chamber PHDCCI the strike, if not withdrawn, would affect the supply of raw material to industries as well as dispatches of finished products.

"The tight delivery schedule of exporters would get affected and this may impact severely their international delivery commitments and credibility," PHDCCI Secretary General Krishan Kalra said.