In view of the ongoing farmers' protest against the new agricultural reform laws, industry body Assocham on Tuesday has urged both Centre and farmers' organisations to resolve the issues as the protests are severely affecting the economies of Punjab, Haryana, Himachal Pradesh, and Jammu and Kashmir.

"A daily loss of Rs 3,000-3,500 crore is resulting in the economies of the region from the value chain and transport disruption because of the protests," according to the chamber, PTI reported. 

According to the news agency, the Confederation of All India Traders (CAIT) stated in the last 20 days, trade and other activities of about Rs 5,000 crore have been affected in Delhi and its surrounding states. 

Assocham President Niranjan Hiranandani said to PTI, "The size of the combined economies of Punjab, Haryana, Himachal Pradesh and J&K is about Rs 18 lakh crore. With the ongoing farmers' agitation and blockade of roads, toll plazas and railways, the economic activities have come to a halt."

The Confederation of Indian Industry (CII) had said, "The farmer agitation has led to supply chain disruptions, which will impact the economy in the coming days and may impinge upon the ongoing recovery from the economic contraction due to COVID-19".