Truckers strike enters its second week

Goods transport stoppage over insurance premium hike has affected commodity prices

Truckers strike enters its second week

Insurance News

By Gabriel Olano

The indefinite strike organized by trucking company owners in India over a huge hike in third party motor insurance premiums has reached its second week, causing price increases for several basic commodities.
Several trucking associations, including the South India Motor Transport Association (SIMTA), held a demonstration at Freedom Park in Bangalore. G. R. Shanmugappa, general secretary of SIMTA, said the government should repeal its decisions, including the phasing out of 15-year-old vehicles.
“We will not withdraw the strike unless the Insurance Regulatory and Development Authority of India meets our demands,” Shanmugappa told the New Indian Express. “We cannot afford to pay a huge price for a third party insurance premium.”

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While it was previously reported that the All India Motor Transport Congress’s (AIMTC) strike would begin on April 20, the group has decided to move it forward and stopped work on Saturday.
The organizations of petrol and diesel tankers have not joined their fellow truckers but have expressed support for the strike. Thus, fuel prices are unaffected.
However, the prices of vegetables and other prime commodities have risen, while several micro, small, and medium businesses, which have no option but to rely on trucking companies to move their goods, have already said that their operations are being hurt.

The truckers have scheduled a meeting with Indian Finance Minister Arun Jaitley, and their future actions will depend on what is discussed.

Related stories:
Truckers to go on strike to protest insurance premium hike
India’s third party motor insurance may cost 50% more

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