Source : INDIA TODAY NEWS
Delhi’s trade suffered an estimated loss of Rs 11,000 crore on November 1 due to the mega rally held at Ramlila Maidan, the Chamber of Trade and Industry (CTI) has claimed. The traders’ body said the disruption affected retail and wholesale markets, transport, hospitality and tourism, with around 2.5 lakh shops remaining shut.
According to an assessment released by CTI, retail and wholesale trade accounted for the biggest share of the estimated loss at Rs 8,800 crore. Transport and logistics suffered an estimated loss of Rs 1,500 crore, while the hospitality, hotel, restaurant and tourism sectors lost around Rs 500 crore. The informal sector and daily-wage workers accounted for the remaining Rs 200 crore.
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CTI chairman Brijesh Goyal said the rally came at a particularly sensitive time for Delhi’s traders, as markets were preparing for the festive shopping rush ahead of Dhanteras on November 6 and Diwali on November 8.
RETAIL TRADE, TRANSPORT HIT
CTI said around 2.5 lakh shops remained completely shut across markets within a five-kilometre radius of Ramlila Maidan. These included major trading centres such as Chandni Chowk, Sadar Bazaar, Kashmere Gate, Khari Baoli, Chawri Bazaar, Connaught Place, Karol Bagh, Paharganj and Bhagirath Palace.
The organisation estimated that around 80% of business activity in these markets came to a halt. It also said the rally led to panic among customers from nearly 100 cities and towns around Delhi, including Sonipat, Panipat, Gurugram, Faridabad, Ghaziabad, Noida and Meerut. These areas typically send around 3-4 lakh customers to Delhi’s markets, according to CTI.
Transport and logistics operations were also severely disrupted, the traders’ body claimed. It said loading and unloading of goods stopped within a 10-kilometre radius of the rally venue, affecting the movement of goods between Delhi’s markets and industrial areas.
Around 5,000 trucks and tempos from 56 industrial areas, including Narela, Bawana, Okhla, Mayapuri and Mundka, reportedly bring goods to these markets every day. Another 3,000 vehicles transport goods from Delhi to the NCR and other parts of the country.
CTI also claimed that around 15,000-20,000 buses, cars and tempos were stranded on key roads, including Jawaharlal Nehru Marg, Bahadur Shah Zafar Marg and Netaji Subhash Marg.
HOTELS, RESTAURANTS AND DAILY-WAGE WORKERS AFFECTED
The hospitality and tourism sectors also faced disruption, according to CTI. The organisation estimated that more than 2,000 hotels, restaurants, guest houses and eateries in areas such as Connaught Place, Karol Bagh, Paharganj, Chandni Chowk and Daryaganj faced booking cancellations.
Tourists, both domestic and foreign, were also unable to visit popular destinations such as the Red Fort, Jama Masjid and Chandni Chowk, it said.
The impact was also felt by workers dependent on daily earnings. CTI estimated that around 20 lakh people, including loaders, auto and e-rickshaw drivers, street vendors, porters and other workers, lost a day’s income.
‘WE ARE TRADERS, NOT BJP AGENTS’
Goyal also pushed back against allegations that the traders’ body was acting on behalf of the BJP. He said around 100 market associations had appealed to the Congress to postpone the rally, arguing that it would disrupt business during the festive season.
“We are traders, not BJP agents. These market associations are not agents of any political party. We are traders in Delhi, and our work is business, not politics,” Goyal said.
The CTI chairman also questioned who would compensate traders, factory owners and shopkeepers for the losses allegedly suffered because of the disruption.
The Rs 11,000 crore figure is CTI’s estimate of the economic impact of the rally, based on its assessment of business activity across the affected sectors.
– Ends
SOURCE :- TIMES OF INDIA
