Jharkhand traders stare at huge losses as heavy rain affects festive buying

Torrential rain not only dampened the spirit of Durga Puja revelers in Jharkhand but also dealt a blow to the small and medium traders who were hoping to cash in on festive buying, officials of traders' bodies said.

Traders from three major cities – state capital Ranchi, industrial hub Jamshedpur and coal heartland Dhanbad - are afraid that the losses would be in the range of 25 per cent to 60 per cent.

Federation of Jharkhand Chamber of Commerce and Industries (FJCCI) president Aditya Malhotra told PTI that rain threw a spanner in the plans of the traders who were hoping to witness more sales compared to previous years due to the recent GST cuts.

“We had been expecting good business during the festival. Major industrial units announced bonus ahead of the Pujas. GST cuts announced recently by the Centre had also lowered prices of consumer goods. However, all our hopes were dashed due to the torrential rains,” said Malhotra.

The trader’s body president put the business loss at Ranchi during the Durga puja at nearly 60 per cent as compared to previous years because of the heavy rain that lashed the state between late September and early October.

“The small and medium traders, as well as those who put up stalls near puja pandals, were the worst affected. The business of small and medium traders has already been hit by the e-commerce operators, and whatever hopes they nurtured during the Durga Puja have been dashed,” said Malhotra.

It was apparently the "worst sales figure" during the festival in recent years for retailers in Jamshedpur and nearby areas, where over 300 Durga Pujas were organised.

“People did not visit shops because of the rain and ordered what they needed online. The loss would be to the tune of 25 per cent as compared to the previous years,” said a senior functionary of the Singhbhum Chamber of Commerce and Industries, Vijay Anand Moonka.

Moonka, who is also the regional vice-president of FJCCI, said that a section of the consumer goods retailers are now pinning their hopes on the forthcoming Dhanteras festival ahead of Diwali to make up for their loss to a certain extent.

“According to the weather forecast, there is no major low pressure or in mid-October. So, medium and small retailers, especially those in the consumer goods segments, are hopeful of making up their losses during the Dhanteras,” said Moonka.

Dhanbad, having a large number of coal mines, also had traders estimating a loss to the tune of 60 per cent in comparison to other years.

Federation of Dhanbad Zilla Chamber of Commerce and Industries Secretary Ajay Narayan Lal narrated the woes of small-time shopkeepers who had put their stalls at fairs near the crowd-puller puja pandals.

“They are distraught with the rain playing spoilsport to their business. They had invested heavily in purchasing their wares, booking space near puja pandals and arranging staff at the stalls. The situation is such that they are not in a position to even pay their staff. The loss is at a staggering 60 per cent as compared to previous years. It can be more,” said Lal.

The Ranchi Met Office said that the state has received a surplus of 17 per cent rain till September.

“As of now, there is no major low-pressure development in the Bay of Bengal or other areas which might lead to rains in Jharkhand in mid-October,” weather scientist at Ranchi Met Centre, S C Mandal, said.