As the wedding season approaches, Subhash Lane near Thane railway station is typically bustling with shoppers.
Matters, however, are surprisingly quiet on this lane at present, because of the demonetization of foreign money. human beings are falling brief of coins to splurge on wedding fineries. buyers along the lane have expected commercial enterprise falling with the aid of over fifty percentage this wedding ceremony season for the reason that demonetization declaration.
The Subhash street marketplace is older than famous Gokhale road or Ram Maruti street markets. more than three generations own a store alongside this street.
Rahul Vadhan, an owner of Bansari Sarees, said, “business is down by using 50 percent in comparison to the previous few years. This 12 months, there are many auspicious wedding ceremony dates and we were hoping for more business post-Diwali, but the demonetization has put us in losses. Our income increased by using one hundred to 200 percent in the course of this time of the year. very few of our clients who pay via playing cards and the main crew opt to pay in cash. We aren't capable of providing the exchange to all people, nor do human beings have sufficient coins to pay in case of essential wedding buying.”
Every other trade,Bharat Mota, who owns the Mister men’s ethnic save said, “We sell wedding ceremony outfits for grooms. The commercial enterprise of each trader along this road is down by way of 40 to 50 percent. however, we aid the demonetization decision, and also are trying to make sure that clients do not ought to go through.”
Mota said that most buyers have reduced the booking amount of wedding ceremony clothing to house customers. “We used to take fifty percentage of the total price of the outfit because of the booking quantity because it desires to be stitched as in step with the fit. we're now accepting quantities as meager as Rs1000 to 2000, in order that humans do no longer have to suffer.”
Income of electronics has also been affected. the proprietor of Mac electronics, Haresh Gala,also expressed of going through almost forty percentage in losses. “Gifting of digital goods like watches, mobiles or television is not unusual for weddings. This yr attributable to the cash crunch, we do not have tons demand them.”
Avenue widening adding to the woes
The buyers of Subhash road had already faced the lack of business at some stage in the widening of this street before monsoon undertaken with the aid of the Thane Municipal company. Vardhan added, “maximum people needed to supply a portion of our stores for the widening and had to renovate or repair it. The enterprise was low due to these sports. We had hoped that we could make up for the losses for the duration of the wedding season and therefore were looking ahead to it. however, with demonetisation, these hopes too are beaten. We do assist the move of the principal government, but there must be a few relief for that not unusual man.”