Now Reading: India’s small shopkeepers back Modi despite demonetisation pain
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India’s small shopkeepers back Modi despite demonetisation pain
NEW DELHI, India’s influential small merchants appear to have thrown their weight behind Prime Minister Narendra Modi in the ongoing general election, despite having suffered from his government’s 2016 demonetisation drive and the chaotic rollout of the goods and services tax.
The Confederation of All India Traders, which claims to represent 80,000 trade associations and over 80 million merchants, has declared its support for Modi’s Bharatiya Janata Party. Traders form a powerful voting bloc in India, where an estimated 90% of retail is controlled by small, family-run shops. Many merchants credit Modi for the better business environment under his government.
Indian Opinion Analysis
India has over 63 million small retail businesses that form the backbone of domestic consumption. The Confederation of All India Traders, which claims 80,000 affiliated associations, often mobilises this bloc. Modi directly courted traders with schemes like the PM Swanidhi micro-credit programme and a lower GST registration threshold that exempts many small shops. The election result in states such as Uttar Pradesh, where BJP faces strong anti-incumbency, will gauge whether this support translates into seats. Counting is on 4 June.
Source: asia.nikkei.com
This story was synthesised by AI from the source linked above. Methodology and corrections.
