Delhi traders claim ₹12,000 crore loss as INDIA bloc rally disrupts markets
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New Delhi , November 2 : Traders in Delhi have claimed losses worth thousands of crores following the INDIA bloc Sunday rally at Ramlila Maidan, alleging that disruptions in transportation, reduced customer movement and panic over the expected gathering of a large number of people affected business across several major markets in the national capital.
Chamber of Trade and Industry (CTI) Chairman Brijesh Goyal said that around 20 to 25 major markets in and around the rally venue were affected. According to him, these historic markets collectively house approximately 3 lakh shops, of which nearly 80 per cent, or around 2.5 lakh shops, remained closed on the day of the rally.
Goyal attributed the closures to apprehensions created by reports over the preceding days suggesting that nearly 10 lakh people and thousands of vehicles would arrive for the gathering. He said many traders decided not to open their establishments due to concerns over traffic restrictions and disruptions.
He further stated that approximately 3 lakh to 4 lakh customers, suppliers and dealers who regularly travel to Delhi from nearly 100 surrounding small towns did not visit the markets. In addition, around 5,000 vehicles, including small tempos, Tata Ace trucks and heavy goods vehicles, could not operate normally.
According to Goyal, markets in Old Delhi and Central Delhi largely depend on daily supplies from industrial areas and transport hubs rather than maintaining large warehouses. The disruption of transportation across an area of nearly 10 kilometres affected the movement of goods, with loading and unloading activities coming to a halt.
Highlighting the timing of the disruption, Goyal said the affected markets collectively generate business worth approximately ₹10,000 crore to ₹12,000 crore during the peak Diwali shopping season. Despite some shops remaining open, sales were reportedly negligible due to the absence of customers.
According to the Chamber of Trade and Industry (CTI), the capital generates around ₹25,000 crore in business around Dhanteras alone, across sectors such as jewellery, electronics, clothing, utensils, sweets, dry fruits and automobiles. CTI has warned that the INDIA bloc’s…
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He estimated that Delhi's trading sector suffered losses of around ₹10,000 crore to ₹11,000 crore. Raising concerns over the financial impact, he questioned who would compensate traders for the losses, particularly with Dhanteras approaching in four days and Diwali falling on a Sunday.
Vallabh said the Kirana Committee Delhi, one of the country's oldest traders' associations, established in 1905, had written to him highlighting an estimated loss of ₹12,000 crore due to the disruption.
He also referred to the Nuts and Dry Fruits Council (NDFC), which reportedly estimated losses of approximately ₹1,000 crore. Vallabh attributed the disruption to the political activities of Congress leader Rahul Gandhi and alleged that the rally had created an atmosphere of confusion and fear, affecting traders and their livelihoods.