Zaveri Bazaar merchants wary of relocating

Whenever plans of shifting firm up, the market declines, says diamond trader

July 13, 2012 02:16 am | Updated November 16, 2021 11:04 pm IST - Mumbai:

A shop damaged in the blast at the Zaveri Bazaar in Mumbai on July 13last year.  File Photo: PTI

A shop damaged in the blast at the Zaveri Bazaar in Mumbai on July 13last year. File Photo: PTI

A year after it was rocked, along with Opera House and Dadar, by bomb blasts, Zaveri Bazaar, the diamond hub of the city, is back on its feet, but there is latent fear in everyone’s mind.

Three near-simultaneous blasts killed 27 people and left 127 injured on July 13.

After the blast, the authorities and diamond merchants said they would move to the plush and highly secured Bharat Diamond Bourse in the Bandra Kurla Complex within a year; but a year on, only 80 major offices have shifted to the 2,500-office capacity new bourse.

“Call this superstition; whenever plans to shift there firm up, there is depression in the market. For three months now, the market is tight. There is hardly any demand; payments are not being made on time. So the local traders are afraid of shifting, thinking that it is a bad omen. The traders have been talking of relocation for the past three years. Last year, when some planned, the blasts happened,” diamond merchant Arvind Shah told The Hindu .

President of the Diamond Merchants’ Association Bharat Shah, however, looked optimistic. “The market is low right now, so people do not want to shift there as they will have to incur extra costs. But I am quite confident that by next year, at least 80 per cent offices would have shifted there,” he said. Other traders are not very sure though.

The odds and concerns about shifting there are still the same. “The place is big, but going there is a problem. Many merchants do not find commuting safe, especially when they are carrying diamonds worth crores of rupees,” Hardik Hundiya, another merchant, said.

The security at Zaveri Bazaar has improved though. There is private security as well as police presence in the area, but the merchants are clearly not very happy.

“Nothing much can be done as preventive action. We all have installed CCTV cameras. If something happens, the police will be able to trace the perpetrators, but will that stop the maniacs from doing such a ghastly thing?” Naresh Mehta, secretary of the Diamond Merchants Association, said.

Police patrols, which were conducted for a few months after the blasts, were waning, he added.

The by-lanes around the market are buzzing with business activity, but the small vendors and hawkers who sold delicious dishes at pocket-friendly costs and who characterised the Khau galli (food lane), are missing. Parking of vehicles is not allowed in two main lanes. At other places, vehicles have started re-emerging. “We can’t stop business fearing an attack. Business is as usual. The attacks haven’t dampened our spirits. But there is fear now. Also, everyone is more cautious. An unknown person is marked carefully,” Mr. Hundiya said. The pain has certainly not gone away.

0 / 0
Sign in to unlock member-only benefits!
  • Access 10 free stories every month
  • Save stories to read later
  • Access to comment on every story
  • Sign-up/manage your newsletter subscriptions with a single click
  • Get notified by email for early access to discounts & offers on our products
Sign in

Comments

Comments have to be in English, and in full sentences. They cannot be abusive or personal. Please abide by our community guidelines for posting your comments.

We have migrated to a new commenting platform. If you are already a registered user of The Hindu and logged in, you may continue to engage with our articles. If you do not have an account please register and login to post comments. Users can access their older comments by logging into their accounts on Vuukle.