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Why Kolkata's Markets Have Lost Their Buzz

Mint Bangalore

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March 05, 2025

The turmoil in Bangladesh and its tense relations with India are taking an economic toll. A ground report

- Ritwika Mitra

As the sun set on Marquis street in Kolkata, Mohammad Mazurul Islam, 75, and his wife Rashida Begum, 56, strolled around to check if they had missed out on buying any item from the list that they had made to take back home. They make two annual visits to the city for health checkups, and shop for themselves and their families. The duo were set to return to Gazipur, Bangladesh, the next day.

"It is not like we can return to India anytime soon. At least, I cannot," said Begum, whose visa is expiring soon; her husband's tourist visa remains valid for four more years. "We have bought a substantial amount of whole spices, which we usually pack during our visits here. We have also bought shawls, cakes, and chocolates for our children and grandchildren," added Begum. In the week that the couple spent in Kolkata, she also paid a quick visit to a private hospital to address a neurological problem.

Through the decades that they have visited Kolkata, they have always stayed in and around this area. "This time, the hotel rates had gone down from the earlier 1200 to 1800, which was a surprise," said Islam.

Actually, there is nothing surprising in the lower rates. With tourist footfalls plunging in the wake of the crisis in Bangladesh, hotels in the area have been running empty. The slowdown began last July, when an anti-quota stir rocked India's eastern neighbour. The government fell on 5 August, and Sheikh Hasina, the Prime Minister, fled the country to take refuge in India. And with that, relations between the two countries went into a tailspin.

Tensions between the two countries escalated when the Hindu monk Chinmoy Krishna Das was arrested in a sedition case. Protests and clashes broke out in Bangladesh and India called on the country to protect all minorities.

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