Majority of Old Delhi traders oppose relocation: CTI
New Delhi, A majority of Delhi's traders is not in favour of relocating historic markets such as Chandni Chowk and Sadar Bazar, the Chamber of Trade and Industry has said, citing a survey it conducted. Majority of Old Delhi traders oppose relocation: CTI
CTI Chairman Brijesh Goyal said the outfit surveyed 1,198 traders from Old Delhi, 88 per cent of whom opposed the shifting of the markets.
Instead, they called for redevelopment and modernisation of the existing infrastructure, said Goyal.
The debate around the future of these iconic markets gained momentum after Delhi Chief Minister Rekha Gupta recently suggested that the city needs a new location for large commercial areas like Chandni Chowk and Sadar Bazar.
Goyal said CTI had received calls from hundreds of traders since the statement was made.
"Most traders believe that these markets should be upgraded with better facilities rather than being relocated. They fear that shifting may hurt their businesses and historical identity," he said.
"Multilevel parking facilities and removal of illegal encroachments could solve more than half the problems faced by traders," Goyal added.
He claimed that past attempts at relocation failed due to a lack of planning and infrastructure.
"The paper market in Chawri Bazar and the chemical market of Khari Baoli were supposed to be shifted years ago, but the new sites lacked even basic facilities. As a result, both markets continue to operate from their original locations," he said.
He stressed the cultural and economic significance of Chandni Chowk and Sadar Bazar.
"These are globally known markets with a rich Mughal-era legacy. Tourists from across the world visit them," he added.
Gupta on Friday suggested shifting Chandni Chowk and Sadar Bazar to new places.
She made the suggestions while addressing an event organised by the Confederation of All India Traders at Bharat Mandapam in Pragati Maidan.
Traders in such markets as Chandni Chowk and Sadar Bazar face a lot of problems doing business from small, cramped spaces where it's difficult to even breathe, she said.
"The need of the day is that all such markets should be set up at some new place to provide them a broader scope, strengthen trade and provide relief to the traders," Gupta said.
This article was generated from an automated news agency feed without modifications to text.
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Hans India
27 minutes ago
- Hans India
Piyush Goyal begins Sweden visit to identify new opportunities for trade growth
New Delhi: Commerce and Industry Minister Piyush Goyal on Wednesday began his official visit to Sweden, aimed at reinforcing the existing robust economic relationship and identifying new opportunities for growth which are aligned with India's long-term economic objectives and global partnerships. The Union Minister's Sweden visit comes after a successful two-day official visit to Switzerland, which focused on advancing India–Switzerland economic cooperation and operationalising the Trade and Economic Partnership Agreement (TEPA) signed earlier this year between India and the European Free Trade Association (EFTA). In the second leg of the official tour, the minister will co-chair the 21st Session of the Indo-Swedish Joint Commission for Economic, Industrial, and Scientific Cooperation (JCEISC) with Benjamin Dousa, Minister for International Development Cooperation and Foreign Trade. Goyal is also scheduled to hold bilateral meetings with Dousa and Hakan Jevrell, State Secretary to the Minister of Development Cooperation and Foreign Trade. These deliberations are aimed at reinforcing the existing robust economic relationship and identifying new opportunities for growth, aligning with India's long-term economic objectives and global partnerships, according to a statement from the Commerce Ministry. During the visit, key engagements will involve an India-Sweden Business Leaders' roundtable and one-on-one meetings with leading Swedish companies. These discussions will cover a wide range of industries where Sweden excels, including advanced manufacturing, innovation, green technologies, and sustainable solutions. Companies like Ericsson, Volvo Group, IKEA, Sandvik, Alfa Laval, and SAAB are among those with a significant presence or interest in enhancing ties with India. Minister Goyal will also engage with the Indian diaspora and address media interactions, further strengthening the people-to-people connections and communicating the vision for the India-Sweden partnership. According to the official statement, the visit reflects the deepening alignment of strategic priorities between India and its European partners, aiming to translate high-level commitments into sustainable economic partnerships that foster innovation, resilience, and shared growth. Earlier, the Minister engaged extensively with Swiss industry leaders across sectors, including biotech and pharma, healthcare, precision engineering, defence, and emerging technologies. As India charts its journey toward becoming a $5 trillion economy, this visit has set the tone for accelerated collaboration with innovation-driven, trusted partners like Switzerland, said the ministry.
Mint
30 minutes ago
- Mint
Piyush Goyal sets TEPA roadmap, urges Swiss industry to tap India's growth
Union commerce and industry minister Piyush Goyal has laid out a forward-looking action plan for implementing the Trade and Economic Partnership Agreement between India and the European Free Trade Association (EFTA) during high-level meetings with Swiss leadership. The plan places innovation, regulatory alignment, and skill development at the core of the future collaboration, the commerce ministry said in a statement on Wednesday. Goyal, currently on a five-day official visit to Switzerland and Sweden to bolster economic and trade ties with key European partners, addressed over 1,000 delegates at the 18th Swissmem Industry Day on Tuesday. He invited Switzerland's mechanical and precision industries to deepen their engagement with India during his two-day visit to the country. 'During the visit, Goyal held productive meetings with top leadership from the Swiss government and industry, aimed at reinforcing strategic synergies and unlocking new avenues for trade, investment, and innovation-led growth,' the statement said. 'He met with federal councillor Guy Parmelin, head of the federal department of economic affairs, education and research (EAER), and state secretary Helene Budliger Artieda to chart a forward-looking roadmap for TEPA implementation. Discussions focused on regulatory cooperation, skills development, innovation partnerships, and mechanisms to facilitate faster investment decision-making,' it added. Last March, India and the four-nation EFTA signed a free trade deal to integrate and strengthen supply chains, attract investments and generate new business opportunities. The EFTA comprises Iceland, Liechtenstein, Norway, and Switzerland. The EFTA has also made a binding commitment to invest $100 billion in India and create one million direct jobs in the next 15 years. The TEPA with the EFTA was the third major trade deal finalized by the Modi government since early 2022, after signing separate bilateral agreements with the United Arab Emirates (UAE) and Australia. India has since then completed a trade agreement with the UK and is in the process of completing one with the European Union and the US. Meanwhile, during his latest visit to Switzerland, Goayl engaged extensively with Swiss industry leaders across sectors, including biotech and pharma, healthcare, precision engineering, defence, and emerging technologies. In his sectoral roundtables and bilateral meetings, he highlighted India's growing economic strength, policy stability, and the government's commitment to creating a conducive and facilitative ecosystem for global investors, the commerce ministry said. 'In his keynote address, Goyal invited Swiss companies, including SMEs and deep-tech innovators, to scale up investments in India by leveraging the new trade architecture offered by the TEPA,' the statement said. 'He spoke about India's demographic dividend, globally recognised engineering talent, and robust supply chains, encouraging Swiss industry to anchor R&D, establish local manufacturing bases, and co-create technologies for the Global South,' it added. A standout moment from the visit was the swift resolution of a facilitation request by Endress+Hauser, a global process automation firm with expanding operations in India, the ministry said. The company flagged an issue regarding land availability near its Maharashtra facility, it said, adding that within hours, the matter was resolved through coordinated action by Goyal and Indian authorities—an outcome industry leaders hailed as a model of responsive and investor-friendly governance. In Sweden, Goyal will co-chair the 21st Session of the Indo-Swedish Joint Commission for Economic, Industrial, and Scientific Cooperation (JCEISC) alongside Benjamin Dousa, minister for international development cooperation and foreign trade. He is also scheduled to hold bilateral meetings with minister Dousa and state secretary Hakan Jevrell to strengthen the already robust economic partnership and explore new avenues for collaboration, in line with India's long-term growth ambitions and global strategic priorities.
The Print
2 hours ago
- The Print
We are ‘really very near' to concluding FTA with EU: Goyal
'I would believe that in the case of the European Union, we are really very near. I think we are very close to finalising a very good, robust free trade agreement with the EU faster than most people would imagine,' Goyal told reporters here. He said India and the European Union (EU) have both agreed to respect each other's sensitivities so that they do not let the irritants hold back agreements. Bern, Jun 10 (PTI) Commerce and Industry Minister Piyush Goyal on Tuesday said India and the 27-nation EU bloc are 'really very near' to concluding talks for the proposed free trade agreement, with only a few issues left to be resolved. In June 2022, India and the 27-nation EU bloc resumed negotiations for a comprehensive free trade agreement, an investment protection agreement and a pact on geographical indications (GIs) after a gap of over eight years. The negotiations stalled in 2013 due to differences over the level of opening up of the markets. On February 28, Prime Minister Narendra Modi and the European Commission President agreed to seal a much-awaited free trade deal by the end of this year. The India-EU trade pact negotiations cover 23 policy areas or chapters, including Trade in Goods, Trade in Services, Investment, Sanitary and Phytosanitary Measures, Technical Barriers to Trade, Trade Remedies, Rules of Origin, Customs and Trade Facilitation, Competition, Trade Defence, Government Procurement, Dispute Settlement, Intellectual Property Rights, Geographical Indications, and Sustainable Development. India's bilateral trade in goods with the EU was USD 137.41 billion in 2023-24 (exports worth USD 75.92 billion and imports worth USD 61.48 billion), making it the largest trading partner for goods. The EU market accounts for about 17 per cent of India's total exports, while the EU's exports to India make up 9 per cent of its total overseas shipments. In addition, the bilateral trade in services, in 2023, between India and the EU was estimated at USD 51.45 billion. PTI RR SHW This report is auto-generated from PTI news service. ThePrint holds no responsibility for its content.
