Trade Turmoil: Nepal Unrest Impacts Delhi's Wholesale Market
The unrest in Nepal has caused significant disruptions for Delhi's wholesale markets, impacting goods en route to Nepal. Traders in Sadar Bazar and Chandni Chowk face financial strain as the unstable situation hampers export and decreases clientele, following protests against corruption and social media bans.
- Country:
- India
Amid escalating turmoil in Nepal, a significant volume of goods from Delhi's notable wholesale markets, including Old Delhi and Sadar Bazar, remain stuck en route to the neighbouring nation.
Sadar Bazar president, Paramjit Singh Pamma, highlighted the market's pivotal role in exporting diverse products like utensils, jewellery, toys, and garments to Nepal. Pamma expressed concerns over financial strains due to consignments stalled in transit and dwindling orders.
Echoing these concerns, Rajiv Bhargaw, president of the Chandni Chowk Market Traders Association, noted a notable dip in Nepali tourist buyers, attributing it to the unrest. The protest, driven by Gen Z against corruption and social media bans, resulted in multiple fatalities and the resignation of Prime Minister K P Sharma Oli, as violence continued unabated.
(With inputs from agencies.)
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