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Delhi's trading sector suffered an estimated loss of Rs 10,000-11,000 crore due to disruptions caused by the INDIA bloc rally at Ramlila Maidan, Chamber of Trade & Industry (CTI) Chairman Brijesh Goyal claimed on Sunday.Goyal said around 20 to 25 major markets in the vicinity of the rally venue were affected, with approximately 2.5 lakh shops remaining closed out of the nearly three lakh shops in these markets.Speaking about the impact on traders, Goyal said the closures were largely due to panic over the expected arrival of a large number of people and vehicles for the rally."Due to the rally held at Ramlila Maidan today, about 20 to 25 major markets in the vicinity were affected. These historic markets house approximately 3,00,000 shops. Based on data we received this evening from various WhatsApp groups-comprising traders from different markets under the CTA (Confederation of All India Traders)-about 80% of these shops-roughly 2,50,000 out of 3,00,000-remained closed today," .
The Chamber of Trade and Industry (CTI) has urged Congress leader Rahul Gandhi to postpone the INDIA bloc's November 1 rally at Delhi's Ramlila Maidan until after November 10, warning that it could disrupt business worth Rs 10,000 crore during the peak Diwali shopping season. In a letter to Gandhi, the Leader of the Opposition in Lok Sabha, CTI chairman Brijesh Goyal said the rally could affect wholesale and retail markets around Ramlila Maidan at a time when traders expect heavy customer footfall ahead of Dhanteras and Diwali. Goyal said Delhi records business worth around Rs 25,000 crore across sectors such as gold and silver, electronics, clothing, utensils, dry fruits, sweets, automobiles, property and gift items around Dhanteras, which falls on November 6 this year. Diwali will be celebrated on November 8, followed by Bhai Dooj on November 10. The traders' body said markets generally see increased activity about a week before the festivals, making the timing of the rally a matt
The Chamber of Trade and Industry (CTI) has demanded a ban on large-scale protests in Delhi's key commercial and central areas from Navratri till Diwali, citing their impact on businesses. The outfit also urged the government to designate a permanent protest zone outside the city. In a letter to Prime Minister Narendra Modi, CTI chairman Brijesh Goyal called for restrictions on large gatherings at Jantar Mantar, Parliament Street and Lutyens' Delhi, saying repeated demonstrations and disruptions to metro services were affecting traders and customer movement. Goyal said the festive period, beginning with Navratri and Ramlila events on October 11, is crucial for traders, with Diwali and the wedding season following. The organisation said restrictions are needed to protect the business of around 15 lakh traders in the national capital. According to a CTI survey, business activity in Delhi's markets has fallen by around 70 per cent over the past three days. The number of customers ..
Gold and silver prices are expected to sustain positive momentum next week amid heightened geopolitical tensions and the uncertainty surrounding the US Supreme Court's impending decision on President Donald Trump's tariff policy, analysts said. The release of inflation data from major economies, including the US, India, and Germany, along with trade and investment numbers from China and commentary from some Federal Reserve officials, will also be closely watched by the traders, they added. "The bullions are expected to continue their positive momentum and corrective moves should be a buying opportunity, as focus again will remain on the US Supreme court hearing in the Trump's trade tariffs case and the geopolitical issues surrounding US President Donald Trump's actions & comments," Pranav Mer, Vice President, EBG - Commodity & Currency Research, JM Financial Services Ltd, said. On the Multi Commodity Exchange (MCX), gold futures climbed by Rs 3,058, or 2.25 per cent, over the .
Delhi's trade associations on Wednesday expressed concern over the US decision to impose a 50 per cent tariff on Indian goods, but said the impact would largely be temporary as India would explore alternative markets and strengthen domestic competitiveness. The Federation of Sadar Bazar Traders' Association (FESTA) termed the step "unfair and unwise". "Tariffs will create a situation of trade war between the two countries," FESTA Chairman Paramjit Singh Pamma said. They appealed to Prime Minister Narendra Modi to give maximum relief to traders in GST and ensure low-interest loans so that domestic products can remain competitive. The Gandhi Nagar Market Association described the disruption as temporary. "This is only a short-term problem as our exports will be routed to other countries," said the association's President Naresh Sikka, adding that traders are confident better alternatives will be found under the Prime Minister's policies. Additionally, Khan Market Traders' Associatio