Rahul's INDIA rally may cost ₹10,000 crore: Delhi traders' body
What's the story
The Chamber of Trade and Industry (CTI) has requested Congress leader Rahul Gandhi to postpone the upcoming protest rally of the Indian National Developmental Inclusive Alliance (INDIA) bloc. The rally is scheduled for November 1 at Ramlila Maidan in Delhi. In a letter to Gandhi, CTI chairman Brijesh Goyal warned that the rally could result in a business loss of ₹10,000 crore during the peak festive season.
Economic concerns
Delhi's economy could take a hit
Goyal emphasized that Delhi's economy could take a hit if the rally goes ahead as planned.
He said that business worth ₹25,000 crore is expected during the festive season, including Dhanteras and Diwali.
The CTI chairman also pointed out losses of up to ₹3,000 crore suffered by traders this month due to protests and security arrangements.
Market impact
Disruption in nearby wholesale, retail markets
The letter also mentioned that several historic wholesale and retail markets are located within a 5km radius of Ramlila Maidan.
These include Chandni Chowk, Sadar Bazar, Kashmiri Gate, Jama Masjid, Jhandewalan and Karol Bagh.
Goyal said traffic diversions and metro closures due to the rally could disrupt business in these markets.
Travel disruption
Traders, buyers traveling through nearby railway stations may be inconvenienced
The CTI letter also highlighted the proximity of Old Delhi and New Delhi railway stations to Ramlila Maidan.
Goyal said route closures and overcrowding during the rally could inconvenience traders and buyers traveling through these stations.
The traders' body has requested all political parties to avoid organizing protest rallies during the festive season leading up to Dhanteras, Diwali, and Bhai Dooj.