Delhi Bandh: Over 900 markets shut as traders protest against Pahalgam terror attack
NEW DELHI: Major shopping centres in Delhi, including
Connaught Place
, Sadar Bazar and
Chandni Chowk
, along with over 900 other markets, remained closed on Friday as traders participated in a '
Delhi Bandh
' to protest the
Pahalgam terror attack
. Various trade groups representing textiles, spices, utensils and bullion sectors suspended their operations.
The Confederation of All India Traders (CAIT) reported that more than 8 lakh shops in Delhi participated in the closure, leading to an estimated trade loss of Rs 1,500 crore for the day.
You Can Also Check:
Delhi AQI
|
Weather in Delhi
|
Bank Holidays in Delhi
|
Public Holidays in Delhi
by Taboola
by Taboola
Sponsored Links
Sponsored Links
Promoted Links
Promoted Links
You May Like
Villas For Sale in Dubai Might Surprise You
Villas In Dubai | Search Ads
View Deals
Undo
The Chamber of Trade and Industry (CTI) announced the bandh on Thursday. They had previously organised a candle march in Connaught Place to show support for the attack victims, which claimed 26 lives, predominantly tourists.
"This is not just a protest; it is a collective stand against terrorism. We are all united in this fight and are observing the bandh in memory of those who lost their lives in Pahalgam," Brijesh Goyal, Chairperson of the CTI, said on Friday.
Goyal urged the government to terminate commercial relations with Pakistan and implement a ban on Pakistani products in India.
A representative from the Sadar Bazar traders' association noted that the typically crowded market was empty, with even vegetable and fruit sellers absent from their usual spots.
The Gandhinagar market, recognised as Asia's largest wholesale readymade garment centre, also observed complete closure, according to the market association's statement.
"The shutdown is being held to demand justice for the tourists killed in the attack and to stand united against terrorism," it said.
The Pahalgam incident on Tuesday marked the most severe attack in Jammu and Kashmir since the 2019 Pulwama event.
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Time of India
30 minutes ago
- Time of India
Techie tries to buy a Gurgaon flat but finds even his Rs 1.2 lakh in-hand salary with no responsibilities not good enough
In today's India, earning Rs 20 lakh per annum is often seen as the benchmark of financial comfort. But a recent viral post on X has struck a chord with thousands, exposing the grim reality of urban homeownership , even for high earners. Shared by a user named Akhilesh, the post details how a friend living in Gurgaon , despite a hefty Rs 20 LPA CTC and frugal lifestyle, still finds himself priced out of the real estate market. In the tweet, Akhilesh writes about his friend's predicament: no car, no children, modest lifestyle, yet every real estate project he visits starts at a steep Rs 2.5 crore. 'If he buys this, he has to live paycheck to paycheck. No buffer. No vacations. No emergencies,' the tweet reads. Despite being in the top 5% of Indian earners, the post suggests, owning a decent home in a metro city remains out of reach, highlighting a growing mismatch between income and urban housing prices. — akhileshutup (@akhileshutup) Netizens react The post quickly caught fire online, igniting a flurry of responses that reflect the simmering frustration among India's salaried middle class. One user echoed the sentiment, writing, 'It's wild how even a high salary feels inadequate in certain cities. Many people are in the same boat, juggling expenses while trying to save. It makes you question what success means nowadays.' Another pointed out the long-term burden of luxury add-ons like 'infinity pools, zen gardens, biometric lifts', which not only inflate the purchase cost but also hike up monthly maintenance charges in the future. The discussion also took a broader economic turn, with one user arguing, 'He earns more than 95% of Indians. That means 7 crore people earn more than him, and a significant portion live in metro cities like Delhi. That's lakhs of families competing for premium housing. Demand is simply outpacing supply.' While some suggested that renting is a smarter option in the current climate, others questioned the societal obsession with homeownership. One user summed it up: 'Rent pe raho. Don't buy a home right now. Save up. Invest. You buy a home when you can afford it, not according to your whims and fancies."
Time of India
30 minutes ago
- Time of India
Crafting luxury: How this Jaipur-based MSME is winning India's elite
Jaipur-based ARL Group , known for its Specta Quartz Surfaces brand, has spent 30 years in the utility building material industry. After years of focusing on functional products, the company decided to diversify into the luxury segment, expanding its portfolio to cater to high-end customers seeking premium building materials. The Group explored new opportunities for diversification and discovered engineered quartz stones at exhibitions. Intrigued, they began a comprehensive study of the product and conducted global market research to understand its potential and trends. This helped them in evaluating the demand, competition, and potential applications of engineered quartz stones in the luxury segment, says Ankit Jain, Founder of Specta Quartz Surfaces, a luxury brand specialising in engineered quartz surfaces. 'Globally, the market is huge, and it is a very well-accepted product,' adds Jain. The global quartz market, estimated at $7.62 billion in 2025, is expected to grow at a CAGR of 4.19% to reach $9.35 billion by 2030. The Indian quartz market is projected to grow at a CAGR of 8.4% to reach $2,462 million by 2026. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Bank Owned Properties For Sale In Tan Dinh (Prices May Surprise You) Foreclosed Homes | Search ads Search Now Undo 'We saw an opportunity to enter a new product line, leveraging export markets to kickstart growth while simultaneously investing in the Indian market to build our brand. This strategy allowed for a beneficial synergy between international expansion and domestic development,' says second-generation entrepreneur Jain. As these luxury projects continue to grow in volume, there is a growing demand for luxury interior materials like quartz surfaces for kitchen and washroom countertops and wall cladding, says Jain. The entrepreneur identified an opportunity in the market for high-quality quartz surfaces, particularly those manufactured using Italian technology, which is preferred by discerning buyers for its superior quality and durability compared to Chinese alternatives. Live Events Ankit leveraged his manufacturing expertise and built India's first manufacturing facility with the Italian Bretonstone technology in the Bagru Industrial Area , Jaipur, Rajasthan. For the uninitiated, Bretonstone is the gold standard in engineered quartz manufacturing worldwide. This Italian technology enables the creation of highly durable, design-consistent, and hygienic quartz surfaces that are ideal for modern living spaces. 'We were only the third company in India to do so and the first to focus so much on the Indian market. This decision has paid off, as Specta's designs are now a benchmark in the industry,' says Jain. India's luxury housing market The growth of luxury real estate and consumption in India has fuelled the demand for high-end home products, says Jain. As people invest more in their homes, especially kitchens and bathrooms, the market for premium materials like quartz surfaces has naturally expanded, offering an opportune time for brands like Specta Quartz Surfaces to capitalise on this trend, adds Jain. Luxury housing units priced above Rs 1.5 crore account for around 17% of new residential launches in India, according to ANAROCK Research's 2024 data. The luxury homes priced over Rs 1 crore dominated sales in 2024, crossing the 50% mark. Specta is planning to open six exclusive experience centres, including flagship locations in Mumbai, Jaipur, and Ahmedabad. The Jaipur-based MSME has made strides in the stone surfaces market, successfully catering to high-end customers seeking premium building materials. It has achieved nearly Rs 150 crore in revenue within just three years. The company also supplies its products to the Middle East. The price of Specta's products ranges from Rs 500 per sq ft to Rs 2,000 per sq ft depending on design intricacies and colours. 'Our turnover (revenue) has steadily grown from Rs 23 crore in 2022-23 to Rs 90 crore in 2023–24, with an EBITDA of Rs 4 crore. The provisional figures for 2024-25 show continued momentum, with turnover reaching Rs 145 crore, underscoring strong demand, strategic execution, and improved profitability,' says Jain. Over the next one year, Specta is expecting a revenue of Rs 300 crore. Specta Quartz Surfaces is working to boost capacity by year-end and aims for 50% year-on-year revenue growth over the next three years. To drive this expansion, the company is launching six exclusive experience centers, with flagship locations in Mumbai, Jaipur, and Ahmedabad, as part of its strategic retail growth plan. How is the sector placed? Aarti Harbhajanka, Co-founder, CHRO & MD, Primus Partners, says that India's luxury market, including premium building materials like engineered quartz surfaces, is growing steadily due to rising disposable incomes, urbanisation, and demand for high-end interiors. 'The engineered quartz segment is expected to expand at a compound annual growth rate (CAGR) of 8-12% over the next five years, driven by real estate development and an increasing preference for durable, aesthetically pleasing surfaces, adds Harbhajanka. However, Harbhajanka cautions that India's engineered quartz market also faces hurdles like price sensitivity due to competition from affordable alternatives such as ceramics and laminates. Additionally, the industry struggles with high import dependency on raw materials and consumer preference for traditional marble, she says. The Jaipur-based MSME has made strides in the stone surfaces market, successfully catering to high-end customers seeking premium building materials. 'Logistics complexities, considering the weight of the quartz and sustainability concerns around silica sourcing and carbon emissions, may add further hurdles. However, manufacturers are countering these issues through localised production and eco-friendly innovations,' adds Harbhajanka. Specta's operating model Specta's business model leverages partnerships with architects, designers, and developers, wherein Specta, founded in 2022, integrates its premium surfaces into luxury residences, commercial spaces, and hospitality projects. Also, it has recently expanded into retail and direct-to-consumer sales for its next phase of scaling. Specta operates in 80 tier-II and tier-III cities across India, supported by a robust network of approximately 60 distributors and 300 dealers. Our business follows a B2B model, wherein we dispatch products from our factory directly to our distributor network, who then handle local logistics and last-mile delivery. 'While our transactions are B2B, over 95% of our sales cater to retail homeowners, facilitated by our dealer ecosystem. Our sales team also works closely with kitchen installers, architects, and designers who act as key influencers, helping get our products specified in premium residential and commercial projects,' says Jain. The company also partners with modular kitchen brands like Livspace, Spacewood, Arancia, and Nolte, who showcase its quartz surfaces in their showrooms. 'When customers place orders, our distributors handle fulfilment. Meanwhile, our business development team collaborates with these kitchen installers and architects in major cities to pitch and showcase our products,' he adds. However, Jain agrees that the product is still at a very nascent stage in India. But he is hopeful more and more people will access the product since people's spending power in India has increased over the years. More than the spending power, the willingness to spend has increased, says Jain. 'With luxury kitchens ranging from Rs 25 lakh to Rs 1.5 crore, high-end consumers aren't satisfied with basic materials like granite. Brands like Nolte and Livspace cater to this demographic, where premium quartz surfaces become a natural choice for those investing in high-end kitchen designs,' adds Jain. Expansion plans Specta, which has so far managed its working capital entirely through bank credit, is planning to open six exclusive experience centres, including flagship locations in Mumbai, Jaipur, and Ahmedabad. 'This is a part of our retail expansion strategy and will help us bring our products closer to customers in high-demand areas. Additionally, we are also banking on the rising luxury real estate market in tier-II and tier-III cities to expand our customer base within the luxury homeowner segment in these regions,' says Jain. The company has also invested in a new manufacturing plant, which will become operational by the end of the year. 'This plant will increase our capacity by almost 150%, and it will be capable of producing super-jumbo slabs and ultra-thin 7mm slabs with unique design possibilities. This advancement will open new applications beyond traditional surfaces, reinforcing Specta's position as an industry leader in innovation and design,' adds Jain.
NDTV
32 minutes ago
- NDTV
Vijay Mallya On Kingfisher Airlines Downfall: "I Went to Shri Pranab Mukherjee"
Fugitive businessman Vijay Mallya, facing fraud and money laundering allegations, has revealed new details about Kingfisher Airlines' downfall. He said he approached then Finance Minister Pranab Mukherjee with a plan to downsize the airline to save it. According to Mr Mallya, his request was met with opposition. In a conversation with YouTuber Raj Shamani, Mr Mallya revisited the collapse of Kingfisher Airlines, attributing much of the airline's troubles to the 2008 global financial crisis. He said that Kingfisher Airlines operated smoothly until 2008, but the situation changed drastically with the onset of the global financial crisis. The economic downturn had a significant impact on India, affecting nearly every sector of the economy, he said. 'The money stopped. It got dry. The value of the Indian rupee also took a hit,' Mr Mallya said. Kingfisher Airlines was launched in 2005, and it earned praise for its premium service. However, financial difficulties escalated as the global economy faltered. Mr Mallya said that recognising the worsening economic climate, he reached out to Pranab Mukherjee to seek permission to shrink Kingfisher's operations. 'I went to Shri Pranab said I have a problem. Kingfisher Airlines needs to downsize, cut the number of aircraft, and lay off employees, as I can't afford to operate under these depressed economic circumstances,' Mr Mallya said. Mr Mallya claims his appeal was rejected. 'I was told not to downsize. You continue, banks will support you. That is how it all started.' Mr Mallya added that despite these assurances, Kingfisher Airlines was ultimately compelled to halt all flights amid mounting financial troubles. During the podcast, the liquor baron also addressed allegations around his financial dealings, claiming he made four settlement offers to banks that were rejected despite his clear intent to repay. He criticised the lack of transparency from banks, stating he never received a formal statement of account despite 15 reminders, and that the total debt of Rs 14,131.6 crore was only revealed through a finance minister's statement in Parliament. Citing a Debt Recovery Tribunal certificate, Mr Mallya disputed media reports of Rs 9,000 crore debt, insisting the documented figure is Rs 6,203 crore. He also questioned being labelled a 'chor' despite having repaid more than what was owed and said he is prepared to stand trial — not for wrongdoing, but for alleged bad intentions.
