Jagmohan Garg; Future dim for LED bulbs, signage traders

Paharganj-based trader Abhijit Bose deals in a product that lies at the core of Prime Minister Narendra Modi’s national programme for LED-based lighting.

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Business should be booming, but Mr. Bose is dreading a look at the monthly balance sheet.

Mr. Bose of Satyam Techno, which deals in both wholesale and retail LED lights and signages, has seen an 80 per cent drop in customer footfall since demonetisation was announced on November 8.

The resulting cash crunch has made it difficult for Mr. Bose to sell off his existing stock or procure new products.

Logistics such as packaging and transportation all involve cash, said Mr. Bose, adding that he was struggling to even disburse salaries to his employees.

Workers don’t have bank accounts.

 

Jagmohan Garg Updates; more details; http://www.thehindu.com/news/cities/Delhi/Future-dim-for-LED-bulbs-signage-traders/article16712412.ece?homepage=true

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