NOTE BAN FALL-OUT:

(In Progress)

1.  Silk-weaving:

(Varanasi, Uttar Pradesh, Dec. 24, 2016)

50% drop in demand and in production among bigger weavers. Sale of previous inventory at much lower prices. Smaller weavers even worse hit. Half of the 30,000 daily wage workers,  or 15,000 people, put out of work. No money to pay workers or suppliers.

2. Timber:

(Haryana, Uttar Pradesh, Uttarkhand, Punjab, Kashmir, Jan 12, 2017)

At least 500,000 workers out of work. Total loss to the industry of at least Rs. 180 crores or Rs. 18,00,000,000 (1.8 billion).

The entire timber industry shut down within one week of demonetization. The losses are from the 30-day shut down.

3. Chit funds:

(December 28, 2016)

55% of the chit fund industry’s cash flow has been lost. In urban areas the monthly flow is Rs. 3-5 crores (300-500,000) Rural chit funds have been hit even worse, because of smaller cash flows. Chit funds are a unique savings and borrowing for lower and middle-income families, but they cannot tap in bank loans like other non-bank financial institutions to tide over the crisis.

Indeed, the entire informal financial sector (chit funds, nidhis, hundis) – some 26% of GDP and 40% of formal bank lending –  has been permanently damaged.

Informal finance is one of the two primary targets of DeMo, fronted by Modi, but pushed by the globalist financial cabal.

4.  Ceramics:

(Surat, Gujarat, December 14, 2016)

25% of ceramic units in Morbi, hub of Gujarat’s  ceramics industry shut down (responsible for 4,200 crores exports).  Another article dated December 5 (see below) says 60% of the ceramics business was likely to be shuttered. 200 out of 650 large ceramics factories in Surat were closed as of November 26th. Business down from 65-70 crores/day to 25. Over 2000 auxiliary industries affected.

5. Diamonds:

(December 5, 2016)

The Surat (Gujarat) diamond industry, worth 95,000 crores (a crore is Rs. 10 million) has seen a decline of 25%.  The business traditionally relied on the angadia cash payments  (a local hawala system using couriers). This was banned in 2002 but still accounts for 30% of the business. It has ground to a halt.  200 factories shut down in the first week of December.

6 Farming:

(Maharashtra, Dec. 16, 2016)

Farm auctions could not be held for 10 days because there was no cash, so red onions that could not be stored sold at half price, putting many marginal small farmers out of business permanently. The same situation plays out in elsewhere in the country.

In Delhi, by Nov. 11, perishable horticultural produce has been badly hit. Onion and potato prices have halved.Rabi or winter crop sowing in farming areas across the country have been affected because of lack of money to buy inputs.

7. Fish markets

(Bengal, November 13, 2016)

Malancha the gigantic fish market 100 km south of Kolkata is 40-50% dry. The largest of some 12 mega fish markets in south Bengal, it normally sells 15000 kg of fish every day. Azibor Rehman, the owner of the biggest fish depot there, says it is the biggest depression he has seen in 50 years. Small farmers who keep notes at home and have no bank accounts are being fleeced by 20% rates to change their notes.

In Goa, fish vendors throw away fish and lose business, as customers prefer to pay for fish with cash.

8. Tourism:

(Goa, Dec. 23, 2016)

90% of tourists at Anjuna have left. Restaurants have shut down and workers are out of jobs. Tourism in India employs 50 million people, 10% of the Indian work-force (more than the population of Colombo) and they are all affected by the note ban. Foreigners can only exchange 2.5% ( Rs. 5000) of what they could before the ban, which was about Rs. 200,000/week or $3000.

9.  Bicycle manufacturing

(Ludhiana, Punjab, November 26, 2016)

Production is down by 50%, there are no fresh orders, and parts cannot be ordered. Ludhiana is the hub of India’s bicycle manufacturing industry. It produces 1.4 crore bicycles at a value of 7000 crores or Rs. 70,000,000000 or $70 billion. 1/3 of migrant workers in the industry have lost their job and gone home to Bihar and Orissa. The bicycle ancillary industry, which employs 300,000 people, have reduced hours by a third.

10.  Small and medium enterprises

(Delhi, Dec. 11, 2016)

A death knell for India’s small and medium enterprises, says the chief executive of Ambit Capital.  Indian  regulations deliberately favor small and medium enterprises over big businesses.  The cash crunch delivered a death blow to them, leaving the market open for big business. Entering the “white” world, would force these businesses to pay taxes, legal minimal wage, and regulatory fees, making their margins too small for them to continue. 30 million Indians work in manufacturing, with 10 million working as self-employed,  with no hired hands outside the family. Those with hired labor on average have 7 or fewer employees.

Here were see another primary target of the globalists’ plan for India.