GUILHERME ALMEIDA
MARGAO
Bustling Margao may be miles away from the State’s mining belt, where all operations have come to a screeching halt upon orders of the Supreme Court.
The echo, however, has been heard loud and clear in the commercial capital. Here, economic activities may be driven by the US dollar or the UK pound and the remittances of the seafarers and non-resident Indians. City traders and businessmen, however, are keeping their fingers crossed over the impact the mining ban could have on the trade and commerce in the commercial capital.
Traders at the New Municipal market, the city’s business nerve centre foresee bad days ahead of them following the shutdown of mining operations. Says President of the Margao New Market Traders Association, Vinod Shirodkar: “Traders engaged in the wholesale business in the city and not to mention of the retailers, will be the worst hit. Business outlets in the areas of Sanvordem, Curchorem, Sanguem and even Ponda-Dharbandora belt used to procure their requirements, whether grocery items, readymade garments, food items, etc from the commercial capital. We don’t expect to make the same business post March 15.”
Vinod conceded that the NRI remittances propel business in the commercial capital, but at the same time, he reminded that Margao is not only about retail business, but is the centre for bulk purchases even for traders hailing from the North. “I can say that business in the commercial capital will not be like in the past. It should be down by at least 30-40 per cent,” he added.
Anil Raheja, owner of Kriss Cross, dealing in readymade garments, echoed similar sentiments. “Customers from as far as Kallay and Sanvordem would come to our readymade outlets in Margao for purchases during festive seasons. I no longer expect our regular customers to show up at least in the immediate future,” he said.
Anil said the situation will be indeed bad for the city businessmen although Margao is kilometers away from the mining belt.
Says economic analyst, Prof Prabhakar Timble: “One has to remember that mining has been the mainstay of the Goan economy over the years. Because of the inter-linkages between different sectors, a shutdown of operations in one area is bound to have an impact in a commercial area such as Margao.”
He pointed out that the retail trade, service sector and the real estate had been propelled by the mining activities, as the activity had enhanced the purchasing power of the stakeholders engaged in this activity.
