New Delhi [India], November 1 : Delhi traders fear business losses of Rs 10,000 crore to Rs 12,000 crore as the opposition INDIA bloc's 'Chalo Dilli' rally at Ramlila Maidan disrupted wholesale markets, transport operations and festive-season shopping on Sunday, according to the Chamber of Trade and Industry (CTI).
CTI Chairman Brijesh Goyal claimed that around 80 per cent of shops in major markets surrounding Ramlila Maidan remained closed amid traffic restrictions and concerns over large crowds.
"These markets collectively conduct business worth around Rs 10,000 crore to Rs 12,000 crore every day. That entire business has come to a standstill, and we estimate that losses could reach around Rs 10,000 crore to Rs 12,000 crore," Goyal told ANI.
He said the actual losses would be assessed after receiving detailed information from individual markets.
According to Goyal, around 20 to 22 major markets, including Chandni Chowk, Sadar Bazaar, Khari Baoli, Chawri Bazaar, Karol Bagh, Connaught Place and Janpath, have approximately three lakh shops.
"Nearly 80 per cent of shops in the markets surrounding Ramlila Maidan are closed today," he said, adding that reports of barricading and road closures had created panic among traders.
The disruption also affected buyers and the movement of goods. Goyal said around three to four lakh buyers normally visit these markets daily from Delhi's neighbouring cities, while nearly 5,000 goods vehicles enter the area for loading, unloading and distribution.
"Goods that are normally supplied from these markets to different parts of Delhi and other cities across the country will also not be dispatched," he said.
The traders' body expressed particular concern over the timing of the rally, with the peak Diwali shopping period approaching.
"On Dhanteras alone, goods worth approximately Rs 25,000 crore are purchased in Delhi," Goyal said, warning that business losses could increase if disruptions affect festive demand.
CTI Vice President Rahul Adlakha also said traders from outside Delhi had cancelled their visits because of the rally and traffic restrictions.
"Even those who have opened their shops are standing idle because there are no buyers. Nobody has come from outside Delhi," Adlakha told ANI.
Goyal said CTI had written a fourth letter to Congress leader Rahul Gandhi, disputing the suggestion that rally participants would boost local shopping.
"When the markets are closed, and the shops are shut, where will these people go shopping?" he asked.
The CTI chairman said the traders' body would compile market-wise data to assess the financial impact, while raising concerns over compensation for affected businesses.