Sports goods mfg industries also felt the heat of Demonetization

Jalandhar, Dec 22 (KNN) Cen­tral gov­ern­ment’s an­nounce­ment on ban­ning high-value notes has left hun­dreds job­less in the city’s fa­mous sports goods hub.

KNN spoke to various Industries associated with Sports Goods Foundation of India and learnt that the situation is even worse for the small industries.

Rajiv Mahajan, Owner, RKM Worldwide, claimed that industries are still facing the heat.

“Though it has been more than a month after the announcement of Demonetization, the situation is not at all under control and the small sector is affected the most. There are some industries that are not able to pay the workers,” said Mahajan.

There are many industries which have laid off workers in large numbers.

“Industries are doing this as they are helpless, but we are hopeful that this will be solved,” said Amit Mahajan, Owner, Hans Raj Mahajan & Sons.

On the other hand Raghunath S. Rana, Owner, Ranson Sports industry from the same foundation said, “There is no such news; we are not affected by demonetization. It is a temporary problem but will be helpful for the industries.”

The demand and supply of sports goods has fallen to almost one third of what is earlier was. (KNN/RAS)