In Aligarh, Where 3 out of 4 Indian Locks Are Made, 90% of Factories Have Shut Down Since Demonetisation

In UP’s Aligarh, where 3 out of 4 Indian locks are made, and where the centuries-old industry employs over 2 lakh daily wage workers, in some 5,000 organized and as many unorganized units, the situation is grim.

Ever since the govt demonetised high-value currency notes, in the name of curbing the flow of black money in the economy, some 90% of the small and cottage scale units, including unregistered ones in Aligarh have either closed down or are on the brink of closure.

“Owners have no money to pay wages or buy raw material, while stock of manufactured goods is piling up in their storehouses. And there is only one functional ATM, in a city of 10 lakh people.”

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