Delhi Traders Report Rs 11,000 Crore Loss from INDIA Bloc Rally
The Chamber of Trade and Industry claims significant business losses due to the recent rally in Delhi, impacting thousands of shops.
Delhi traders estimate losses of Rs 11,000 crore due to the INDIA bloc rally.
Major markets around Ramlila Grounds were closed, affecting 2.5 lakh shops.
The hospitality sector also faced cancellations worth Rs 500 crore.
Traders in Delhi have reported staggering losses amounting to Rs 11,000 crore following the recent INDIA bloc rally held at Ramlila Grounds. The event, which took place on a Sunday, coincided with the peak festive shopping season, leading to the closure of numerous prominent markets in the vicinity.
The Chamber of Trade and Industry (CTI) has detailed the financial impact, asserting that retail and wholesale sectors alone suffered losses of approximately Rs 8,800 crore. In a series of letters sent prior to the rally, the traders' association had urged opposition leaders, including Rahul Gandhi, to consider postponing the event until after Diwali to mitigate the adverse effects on local businesses.
CTI chairman Brijesh Goyal highlighted that the business activities within a five-kilometer radius of Ramlila Maidan came to a complete halt. Key market areas such as Chandni Chowk, Sadar Bazar, and Connaught Place saw around 2.5 lakh shops shut down, with 80% of business activities suspended. Additionally, the transport and logistics sector reported losses of Rs 1,500 crore due to disrupted goods movement.
The hospitality industry was not spared either, with the CTI estimating cancellations worth Rs 500 crore across more than 2,000 hotels and restaurants in central Delhi. The shutdown also affected informal workers, with approximately 2 million individuals, including street vendors and drivers, losing a day's wages, amounting to nearly Rs 200 crore.
Looking ahead, the traders are calling for compensation from the government for the losses incurred. The ongoing discussions and potential responses from the authorities will be crucial in determining the next steps for the affected businesses and the broader implications for Delhi's economy.
