Kashmir floods hurt Delhi traders

NEW DELHI: The floods in Kashmir have left the city's wholesalers with a sinking feeling. Delhi is the most important supplier of industrial goods-electricals, electronics, shoes, clothing etc-to the Valley and it carries on business with traders there on credit. At the same time, it sources a lot of artisanal goods-shawls, carved pieces, semi-precious jewellery-and natural produce with ready cash.However, after the devastation caused by the floods, businessmen here say they don't expect to get either their money or their ordered goods anytime soon.
September is a time when the Kashmiri businessmen repay Delhi's wholesalers and place fresh orders for the winter on credit. Godowns in Delhi are already brimming with woollen ladies suits, jackets and caps in anticipation of the winter demand.
"Our trade ties go back many decades but when Kashmir's businessmen are passing through a crisis, we can't expect them to pay us. Moreover, there is no insurance, so we can't expect any compensation. Our stores are full but we can't send the supplies. It's a double whammy for us," said Vinod Sharma of Delhi Hindustani Mercantile Association, which has around 950 members.
Suppliers of electronics, chemicals and artificial jewellery have also suffered but not as much as the textile traders. "People in Uttarakhand haven't recovered fully a year after the floods, so J&K will also take time. But we are bleeding. Artificial jewellery is an important article of trade from J&K. We were awaiting big consignments for which payments have already been made," said Kunal Mehta of Kinari Bazar, a small jewellery market in Chandni Chowk.
Traders in Sadar Bazar have raised prices of their goods to make up for the losses. Some of them are planning to go to Kashmir to see if they can recover money. "Not all parts of Kashmir are affected but we aren't able to get in touch with any of the businessmen there. Some traders might use this crisis as an excuse to not pay," said Pawan Kumar of Sadar Bazar Market Association.
Shopkeepers in the electronics hub, Bhagirath Palace, who supply heaters, geysers and lamps to the Valley are reeling under their losses. They send goods to Kashmir in July and their payments come in by August-end. They send their winter consignments in November. "The stock is ready for November and payments were coming in when J&K was hit by the floods. We aren't able to talk to our clients. Till the time services are resumed, we will have to bear the loss," said Bal Krishan Jindal, president, Delhi Electrical Traders Association.