Stores shuttered by farmers’ protests cost Reliance, Walmart millions in revenue

Dozens of Reliance Industries’ retail stores and a giant Walmart outlet face revenue losses of millions of dollars after being forced to shut for more than three months over protests against India’s new farm laws, sources said.

Thousands of farmers from states including northern Punjab have camped for weeks on the outskirts of the capital, in a bid to force Prime Minister Narendra Modi to repeal the laws they contend will benefit corporates, rather than cultivators.

Fears of farmers’ agitation in Punjab, home to many protest leaders, have stoked companies’ fears over vandalism and the safety of employees, prompting the closure of dozens of shops, store employees and industry sources said.