Business hit during violence, curfew

THE HUSTLE and bustle returned to City markets on Thursday, but three days of curfew following commercial violence has led to loss of business worth crores of rupees in main shopping districts of Sarafa, Cloth Market and Siyaganj.

THE HUSTLE and bustle returned to City markets on Thursday, but three days of curfew following commercial violence has led to loss of business worth crores of rupees in main shopping districts of Sarafa, Cloth Market and Siyaganj.

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Although exact figures are not available, Siyaganj wholesale market lost business worth roughly Rs 200 crore while the loss of business at Sarafa was pegged at Rs 15 crore and Cloth Market lost out on business worth Rs 9 crore during this period.

Sarafa Sona Chandi Vyapari Sangh president Hukumchand Soni told Hindustan Times that although normalcy had returned to the market in terms of business hours it would take a few more days for footfalls to return to normal.

The Siyaganj Wholesale Kirana Merchants’ Association president Ramesh Khandelwal told Hindustan Times the markets were closed on Monday and Tuesday due to curfew while the association had called for a strike on Wednesday to protest high VAT on dry fruits. “I estimate a loss of business of Rs 60-65 crore on daily basis,” he said.

The City’s other main markets like Cloth Market, Bartan Bazaar and markets in the vicinity of Rajwada were also shut down for three days.

Apart from traders, small and micro industry also suffered huge losses during this period although the impact on large industries was minimal.

Banking transactions were also hit to a large extent. According to the Ahilya Chambers of Commerce and Industry, cheques worth Rs 300-400 crore were stuck during this period, which affected the smooth functioning of various industries.
The State Government also lost out on revenues to the tune of crores in terms of commercial tax and other taxes.