Delhi Fires Service confirmed the incident saying that 27 fire tenders had been called to the spot to douse the flames. No causality has been reported so far, they said.
The information about the blaze was reported at 2.05 pm following which the fire tenders were rushed to the spot, they said, adding that the flames were brought under control by 4.30 pm.
Delhi Health minister Satyendar Jain tweeted about the incident.
"In an unfortunate incident, a fire broke out in Delhi's Jhandewalan cycle market near Videocon Tower. 27 fire tenders were rushed to the accident spot. Our brave fire fighters have successfully controlled the situation. No casualties have been reported so far," he tweeted.
On Thursday, a 42-year-old man was killed and six others were injured when a fire broke out at an electric goods factory in northeast Delhi's Mustafabad area.
On 13 May, at least 27 people were killed after a massive blaze engulfed a commercial building in Delhi's Mundka area.
