More businessmen died by suicide than farmers in 2020, reveals data

Following the Covid-19 pandemic, a small-business owner* experienced a drop in sales. He then caught the sickness and spent months confined to his bed. The family was having financial difficulties, and the businessman urged that they relocate to the mountains and leave everything behind.

Fortunately for him, he was able to seek the assistance of a mental health specialist who had witnessed similar incidents leading to suicide and had taken efforts to address the problem. The family is gradually regaining control of their situation.

According to the National Crime Records Bureau (NCRB), 11,716 traders died by suicide in 2020, compared to 10,677 farmers per year, with 4,356 “tradesmen” and 4,226 “sellers” among the more than 11,000 deaths. The others have been grouped together as “other businesses.”

Suicides in the business community increased by 29% in 2020 compared to 2019. Suicide rates among traders rose from 2,906 in 2019 to 4,356 in 2020. This figure is higher by 49.9%. The total number of suicides in the country grew by 10% to 1,53,052, the highest level ever recorded. Traditionally, such deaths have been more common among businesspeople than among farmers.

During the lockdown, small traders and traders faced significant losses, and many people were compelled to close their shutters. In Covid’s year, small enterprises were particularly hard hit. Until now, it was assumed that more farmers became self-employed as a result of crop failure and mounting debt, but this demonstrates that business class tensions are not at an all-time low. The outbreak has exacerbated the situation.