Islamic Terrorism in India

Most Muslims are not terrorists, but most terrorists are Muslims

Delhi blasts to have serious impact on festive shopping season

Posted by jagoindia on September 17, 2008

Pre-festive shopping to be badly hurt
14 Sep, 2008, 0027 hrs IST, ET Bureau

NEW DELHI: The upcoming festive shopping season starting from later this month is going to be badly hit in the National Capital Region (NCR) due to the terror attacks on major markets on Saturday. According to traders, business might be down by almost 40-50%. The shopping season, which is scheduled to start from Navratri and Eid, usually continues till Dussehra-Diwali.

So it’s not just the traders but also manufacturers of major consumer goods would also take a hit. The NCR region accounts for almost Rs 110-125 crore business daily and contributes almost Rs 15 crore to the state exchequer every day. Besides, Delhi contributes about 6-8% of excise and sales tax revenue to the national exchequer.

“Business is going to be badly hit. Shopkeepers in Delhi generally depend on their livelihood on the sales they do in this busy shopping season. Many of the hurt were also traders. Outside traders who come to Delhi in the busy season to buy stock may not come now,” says Praveen Khandelwal, President, Confederation of All India Traders.

Gaffar Market, Karol Bagh and Connaught Place are the some of the largest shopping districts in India. While Karol Bagh is one of India’s largest shopping districts, with major auto parts and cloth market having about 40,000 shops, Ghaffar Market houses imported items, mobile phones with about 1,500 odd shops. All the three circles combined, including Palika Bazaar, Shankar Market and Connaught Place, constitutes about 5,000 odd shops.

Besides, Connaught Place houses the offices of major companies and PSUs such as FCI, LIC, BPTP, Parsvnath, Ansals, Reliance Industries, Jet Airways, ICICI Bank, HDFC. All major brands such as Reebok, Adidas, Tag Heur and Levis also have stores in the area.

When contacted by SundayET, Murli Mani, president, Gaffar Market said: “There are more than 200-300 shops around the blast site, which were mainly in handloom business. Everyday around 20,000 people come to this market. Blasts will deeply impact business as many areas will be sealed now.”

One of the blasts happened just above Palika Bazaar — the basement market — which is a major hub for electronic items. Maher Elahi, vice-president, Palika Traders Association. said: “We have about 400 shops and 40 authorised hawkers in Palika Bazaar and about 5,000 corporate offices in Connaught Place. The security measures are negligible. These blasts will deeply affect our business.”

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