Retail in Asia

In Markets

LBT row: Mumbai retailers shut shop

Over a million retailers in Mumbai have shut shop from Monday to protest against the Local Body Tax (LBT), which will replace octroi in Mumbai from 1 October. LBT has already replaced octroi in the rest of Maharashtra.

Neighbourhood retail shops and wholesale trading in clothes, electronics, hardware, metals, cloth, foodgrain, fruit, vegetables and all types of manufacturing activities in Mumbai have been paralysed since Monday morning. It has inconvenienced millions of customers. Modern trade such as Big Bazaar and Reliance stores are, however, open.