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Economy / India

India

October 2005 | Risk Summary

Flights were cancelled and state-run banks shut across India on September 29 as hundreds of thousands of people struck work to protest against economic reforms and moves towards privatisation. Trading volumes on the country's currency and bond markets fell to a trickle as bank workers and airport staff heeded the strike call by the ruling Congress coalition's Left allies. An industry lobby group, the All India Association of Industries, said the loss from disruption of banking and aviation services was estimated at more than US$45.5mn. The Centre of Indian Trade Unions (CITU) has warned that unless the government undertakes a

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