Kolkata: The upheaval in Bangladesh has dealt a debilitating blow to 4,500 shops in and around New Market . Bangladeshis, who comprise a bulk of customers at shops in the belt, have disappeared since Saturday, leading to a business loss of nearly Rs 6.5 crore so far.
All markets in the zone wore a deserted look on Monday evening. Shops that were busy attending to customers and doing roaring business till Friday had hardly any walk-ins on Monday. “The markets in this area, including New Market, are completely dependent on Bangladeshi customers who make up nearly 55%-60% of the footfall and contribute to nearly 70% of the turnover.
Troubled by the violence back home, they have suddenly stopped coming to the markets. It almost feels like a rerun of 2021 when Bangladeshis were unable to travel due to Covid,” said SS Hogg Market Traders Association general secretary Uday Kumar Shaoo. However, unlike the situation three years ago when there were hardly any Bangladeshis in Kolkata due to travel restrictions, a few thousand Bangladeshis are in the city at present, a majority of them stranded due to lack of travel options after most of the flights and buses and all train services between Dhaka and Kolkata were suspended.
But with uncertainty looming large over when the situation will improve in the country, they have become cautious about spending. Wahid Masudinar from Dhaka’s Mohammadpur, the only Bangladeshi TOI could find in New Market between 3pm and 4pm on Monday, explained that it was not just the gloom that had prompted Bangladeshis to stay away from markets, there was also the uncertainty over how long they would have to stay and the limited cash at their disposal. “I came to Kolkata around 10 days ago.
We were scheduled to return on Monday but are unable to. There is no certainty when the situation will improve and transport services will resume. Till then, we have to put up in hotels and pay in cash as credit card transactions are not going through as we cannot get OTP on mail due to the internet blackout in Bangladesh,” said Masudinar.
Shops that sell dry fruits, chocolates, cosmetics, luggage and garments are the worst affected as Bangladeshis shop for these products for not only themselves but also carry home stuff ordered by friends and relatives. With dry fruits, chocolates, cosmetics and luggage categorised as luxury items and attracting 300% GST in Bangladesh, it makes sense to buy them in India despite the lower exchange rate. “We usually sell dry fruits, chocolates, cosmetics and whole spices in huge quantities to Bangladeshi shoppers daily.
Though we knew trouble was brewing in the country, it seemed business as usual till Friday. But since Saturday, there has hardly been any business,” said Md Shahbuddin of the Choconut store in New Market..
