Both the heads of the country took Twitter to send their messages and prayers for the recovery of those suffered injuries.
"Extremely sad to hear the tragic news about fire in Delhi's Anaj Mandi. My thoughts and prayers are with affected families. Wishing for an early recovery to those injured. The local authorities are doing their best to rescue people and provide help," the President tweeted.
The Prime Minister called the fire in Delhi's Anaj Mandi on Rani Jhansi Road in west Delhi "extremely horrific".
"My thoughts are with those who lost their loved ones. Wishing the injured a quick recovery. Authorities are providing all possible assistance at the site of the tragedy," the Prime Minister tweeted.
Meanwhile, Union Home Minister Amit Shah called the incident a tragic loss of precious lives and instructed concerned authorities to provide all help.
"Tragic loss of precious lives in the fire accident in New Delhi. My deepest condolences with the families of those who have lost their loved ones. I pray for the early recovery of the injured. Have instructed concerned authorities to provide all possible assistance on an urgent basis," Shah tweeted.
Delhi Chief Minister Arvind Kejriwal described the incident as "tragic" and said firemen were doing their best. "Very very tragic news. Rescue operations going on. Firemen doing their best. Injured are being taken to hospitals," Kejriwal tweeted.
BJP's National Working President J.P. Nadda also tweeted: "Extremely anguished by the loss of lives in fire tragedy at Anaj Mandi, Rani Jhansi Road, Delhi. My thoughts are with the bereaved families. May the injured recover quickly. Have asked BJP Delhi karyakartas to provide all possible assistance to those affected."
Congress leader Rahul Gandhi also expressed his condolences over the fire incident, saying "I am hurt with the deaths of several people and injuries to many in a major fire in Delhi's Anaj Mandi."
"I express my condolences to the bereaved families and pray for the speedy recovery of those injured."
The fire is said to be one of the biggest fire incidents in Delhi after the Uphaar Cinema fire which took place on June 13, 1997 in south Delhi's Green Park area leading to deaths of 59 and over 100 non-fatal injuries.
At least 43 people were killed and over a dozen others injured early Sunday when a fire broke out in a bag manufacturing factory in a crowded market in Rani Jhansi Road area. The people who died in the fire are labourers and they were sleeping in the factory when the fire broke out between 4.30 and 5 a.m.
So far, more than 60 people have been rescued and shifted to the Lok Nayak Jai Prakash Narayan Hospital and Lady Harding Hospital.
The Fire Department said that they received a call around 5.22 a.m. and 25 fire tenders were rushed to the spot. The exact cause of the fire is yet to be ascertained but the fire officials said it could be a short circuit.
( With inputs from IANS )