Positive sentiments prevail in markets throughout 2023

 

 

 

 

 

 

The year 2023 brought a lot of happiness for traders of the region as they witnessed positive sentiments in the markets because of various factors. Increased liquidity and improved buying potential of the customers opened up new opportunities for the traders right form the beginning of the calendar year. In the summer season saw heavy demand for products cutting across the categories which kept all the markets buzzing. Traders dealing in jewellery, consumer durable, garments, etc., enjoyed the seasons and succeeded in posting reasonable profit. There was heavy demand for two-wheelers and other vehicles during the year. In Diwali, the markets swung in the action when demand for all these products jumped manifold. For most of the traders, 2023 was far better than the previous year. In addition to this, the buyers were seen not shying away from spending more for the products. Though there was year-on-year price hike, the markets enjoyed increased footfall and considerable jump in the business volumes. As far as the rates of essential commodities and vegetables are concerned, one of commonly consumed kitchen staples grabbed the centre stage in 2023. The year saw record high of tomato prices in the month of July when its supply witnessed shortfall in many regions.

 

The price of tomatoes had touched an all time high of more than Rs 200 per kg in the retail markets. The steep rise gave sleepless nights to all. Onion prices also shot up for couple of weeks but it failed to make any significant impact on the buyers. On the other hand, prices of some pulses also strained budgets for many this year. But prices of edible oils, rice, wheat and many grocery items remained reasonably stable in 2023. As far as development of new facilities and markets for the traders is concerned, there was no remarkable happening in the city in 2023. But the year saw bhoomipujan of one complex and announcement of another. Work of these two facilities was pending for quite long. After a long struggle of about four decades, the grocery merchants based in Itwari and Maskasath have succeeded in starting construction of a new state-of-the-art wholesale market at Mouza Chikhli (Deo) in East Nagpur. The ground breaking ceremony of new market was held on December 3 at the hands of Union Minister of Road Transport and Highways Nitin Gadkari in presence of Deputy Chief Minister Devendra Fadnavis.

 

The Nagpur Itwari Kirana Merchants Association is building the market for its 676 members who are now based in the narrow lanes of Itwari and Maskasath. The new spacious market with state-of-the-art facilities will be ready within next three years. It will have a space of at least 1,000 square feet area each for all the occupants. The market involving estimated cost of over Rs 300 crore will have a spacious parking space, 60 feet broad outer roads, 40 feet broad internal roads and other facilities. The new market was conceptualized in 1986. However, office-bearers were struggling to built it for various reasons. The Maharashtra Housing and Area Development Authority (MHADA) has come out with an ambitious plan of building a new textile complex in the heart of the city. The proposed complex will accommodate nearly 3,000 traders engaged only in the textile sector. It will be developed on a 4 acre land situated in front of Geeta Mandir. The new facility will prove beneficial for the traders as well as customers. It will also bring down traffic congestion at various markets in the city.

 

In September the MHADA officials gave a presentation on the proposed project and invited suggestions and objections from the traders, mainly those displaced by various road widening projects. The authorities, planning to accommodate big, medium and even small textile traders in the proposed facility, have come up with an idea of a multi-storey building with various world-class facilities such as elevators, public toilets, etc. These two proposed facilities are expected to give much needed respite to traders and buyers. Under construction multi-layer parking facilities at Mahajan Market and Gokulpeth Market is also expected to ease traffic problems at respective places. The year saw some progress at these sites. Overall the year brought smiles on the faces of traders and buyers as well.