Economic crisis to hit Noida as migrant labourers leave city amid lockdown -

Economic crisis to hit Noida as migrant labourers leave city amid lockdown

NOIDA: Realtors, factory owners, and other businessmen stare at the worst economic crisis as factory labourers and construction workers started leaving for their respective hometowns following the announcement of a week-long lockdown in Delhi, and weekend lockdown in Uttar Pradesh.

According to the Micro, Small, Medium Enterprises (MSME), Gautam Budh Nagar, at least 20% of its workers have left for their hometowns last week, affecting the work. Even more are planning to leave the city to keep themselves safe from Covid-19 infection. Similarly, the Confederation of Real Estate Developers Associations of India (CREDAI) and the National Real Estate Development Council (NAREDCO) said that their businesses are shut once again amid the abrupt rise in the coronavirus cases in Noida and Greater Noida.

“The surge in Covid-19 cases in Delhi, Noida, and other big cities has left the businesses gasping already, as the workers are leaving for their hometowns. Thirty out of 60 workers stopped reporting to work after Delhi chief minister announced the lockdown. Six others refused to come to work as they wanted to stay safe at their hometowns in Uttar Pradesh. The worst is going to happen soon as the remaining workers have also planned to leave the city… This time, unlike last year, workers are planning to leave the city via buses and other vehicles as they fear the wave will continue for a longer period of time this year” said Surendra Nahta, president, MSME, Gautam Budh Nagar chapter.

The district has at least 600 ongoing realty projects, and the builders stare at the “worst crisis” as they have hardly seen sales for a month, as Covid-19 cases started increasing.

“It took us almost a year to revive the real estate sector… since March 2020. We had started to witness normalcy in the market, but now, we stare at a bigger economic crisis once again, with Covid-19 cases increasing rapidly because of the poor health infrastructure. With most of our staff handling sales are Covid-positive, and the cases are on the rise in all the big cities, we have been seeing zero sales for the past one month. We fear that this time the impact on the business sector will be the worst,” said Prashant Kumar Tiwari, president, western Uttar Pradesh wing, CREDAI.

Though the developers did not close their sales offices yet, around 50% of staff has not been reporting to work. “We can’t run the business without our staff, construction workers, and customers. Since all the three sections are struggling with Covid-19 infection, the ramification on the business is beyond imagination. The real estate sector now stares at the worst crisis ahead if the situation prevails,” said RK Arora, president, NAREDCO.

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