Demonetisation: Business comes to a grinding halt at Delhi’s Kotla, Jagatpuri markets

Another shop owner, Nathuram, says, “We had received some orders before November 9 and work continued until last week. Now we don’t have any more orders.”

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In east Delhi’s Jagatpuri — a large market for household appliances, construction material, paints, varnishes, tiles and marbles — business has taken a hit primarily because construction work across the city has slowed down.

Shri Ram Steel Syndicate, a distributor of steel and iron rods, among other construction material, has seen a 60 per cent dip in sales. The large shop was empty save for a receptionist waiting to take orders from customers. “Only four or five customers have come to us in the last two weeks, and most have taken materials on credit. Our workers don’t have anything to do and many have gone back to their villages. The marketplace is empty,” said a worker at the shop.

Business has come to a grinding halt at Jagat puri market known for hardware stores. (Express Photo: Abhinav Saha)

Star Marbles, which sells marble slabs, is also deserted. Its owner, Anurag Saluja, said, “Business has fallen to 30 per cent since demonetisation. We deal mostly in cash, and these past few days have been tough. We are wondering how to pay our workers by the end of the month.”

Rajesh Kumar, a contractor who has been buying material from the wholesale market for construction work on a residential building nearby in Jagatpuri, said of the 15 workers he had engaged, only five are now working.

“I am getting very little money for the work of supervising on the construction of the house. I don’t have money to pay my workers so they do not want to keep working for free everyday. No one has cash to give. That is the problem,” he said.