Demonetisation hits East's oldest industrial trade fair

Demonetisation has impacted Eastern region's oldest industrial trade fair as several exhibits have pulled out of it, officials said today.
Bengal National Chamber of Commerce and Industry's (BNCCI) 29th trade fair committee chairman Sourajit Palchaudhuri said at the inaugural function that due to demonetisation the trade fair had been downsized.
Some 50-60 participants have pulled out citing demonetisation as the reason, BNCCI officials said.
State Urban development minister Firhad Hakim said "Demonetisation has affected the entire business community of the country including ours".
"You cannot suddenly change practice and also expect from people where banking facility is yet to reach," he said.

This year at the IITF, some 450-500 participants have exhibited their products including from few foreign countries like Bangladesh, Pakistan and Nepal.
Exhibitors remained concerned over impact on spending by people due to currency supply in the hands of consumers while trying to adopt digital payment methods.
The fair would continue till January 1.