Protests Hit Delhi Markets Hard, Causing Daily Losses of Up to ₹100 Crore: Traders

New Delhi, October 16 (Daily Kiran) : Protests and road blockades in Delhi are severely impacting business in the capital’s key markets. Traders report a significant drop in customer footfall in areas like Connaught Place, Janpath, Palika Bazaar, Shankar Market, and Khan Market. This period is traditionally one of the most important for business, yet ongoing demonstrations and traffic restrictions are making it difficult for customers to access these areas.

Atul Bhargav, president of the New Delhi Traders Association, stated that merchants in Connaught Place and surrounding areas are facing daily losses of nearly ₹100 crore. He noted that the entire central business district, including Janpath, Palika Bazaar, Mohan Singh Place, Municipal Market, and Shankar Market, is experiencing a downturn.

Traders had previously stocked up for the festive season, expecting high sales, but the persistent disruptions have hindered their ability to sell effectively. Bhargav warned that if the situation does not improve soon, losses could escalate.

Sanjeev Mehta, president of the Khan Market Traders Association, echoed these concerns, highlighting a drastic decrease in customer numbers. He remarked that while the markets usually buzz with activity during this time, they are now barely seeing any shoppers. The months of October, November, and December are critical for traders, as sales during these months can dictate their annual performance. He pointed out that stores are filled with inventory, but without customers, economic challenges are mounting for both traders and their employees.

Mukesh Gupta, president of the Bengali Market Traders Association, mentioned that business has been severely affected since July. His market, which typically attracts ministers and high-ranking officials, has seen local commerce nearly come to a standstill due to the protests.

Kuldeep Arora, president of the Lajpat Nagar Market Association, stated that protests have a 50% impact on market activity. On days of demonstrations, business grinds to a halt. He emphasized the detrimental effects on sales during the festive season, as traffic jams and chaos discourage people from shopping.

Many traders at Shankar Market noted that protests often coincide with peak shopping hours, further hindering customer access due to road closures and increased security measures. Some traders reported a staggering 70% drop in foot traffic.

One shopkeeper suggested that designated areas should be used for protests, as demonstrations in main streets and market areas directly affect commerce. Traders also expressed concern over ongoing operational costs like electricity bills and employee salaries, which continue regardless of sales, adding to their financial strain.

A merchant remarked that the festive season is crucial for revenue, and the protests are causing significant losses. There are also concerns about the potential involvement of anti-social elements in these protests, which raises safety concerns for shopkeepers.

A shopkeeper from Connaught Place added that heavy police presence and security measures deter many from visiting the market. When metro stations are closed or traffic is disrupted, it becomes increasingly challenging for customers to reach the markets, particularly affecting festive shopping, which usually peaks at this time.