Impact of demonetization on the indian retail industry before and after 10th december, 2016
International Journal of Development Research
Impact of demonetization on the indian retail industry before and after 10th december, 2016
Received 05th April, 2017; Received in revised form 29th May, 2017; Accepted 26th June, 2017; Published online 31st July, 2017
Copyright ©2017, Purvi Mathur and Dr. Ritu Arora. This is an open access article distributed under the Creative Commons Attribution License, which permits unrestricted use, distribution, and reproduction in any medium, provided the original work is properly cited.
The 8th November, 2016 is the important date in the history of the Indian economy, when our honorable Prime Minister Narendra Modi announced the decision to demonetize the 500 rupee note and 1000 rupee note. It was a surprise move that has affected the consumption activity in the Indian economy. This move has affected the Indian retail sector due to lack of liquidity in the economy. It has also resulted into the low footfall in shopping malls, more use of plastic money and electronic payment. The impact is felt more by the small traders and the unorganized retailing segment as their transaction is in cash. But it is estimated that Indian economy can grow considerably after curbing the counterfeit money and increase in the economic activity. This paper analyses the impact of demonetization on the Indian retail sector both organized and unorganized.
