Traders’ Association CAIT says the Diwali festival shopping in India crossed Rs.1.25 Lakh Crores across India

Cheer for traders as robust Deepavali festival sales shows India has turned the corner

Cheer for traders as robust Deepavali festival sales shows India has turned the corner
Cheer for traders as robust Deepavali festival sales shows India has turned the corner

CAIT: Diwali festive sale crosses 1.25 L cr, highest figure in last 10 years

Traders’ Associations on Friday said that Diwali festival sales across India crossed to the tune of Rs.1.25 Lakh crores, which shows the country has overcome the two-year dull in the markets. “On Diwali, festival sales, the people thronged the markets fiercely and helped in generating huge business to the tune of 1.25 lakh crore which is record trade figure in last 10 years on the occasion of Diwali. Such a massive shopping has ended the economic slowdown in business which was continued in the markets for the last two years,” said the Confederation of All India Traders (CAIT) in a statement citing initial data on the Diwali festival shopping spree across India.

“It has also awakened the spark of better business prospects among the business community in the near future. In many ways, this Diwali was completely different from the previous years and the countrymen also celebrated the festival of Diwali with full gusto. Excited and encouraged by tremendous Diwali business, the traders across the country are now gearing up for the sale of the wedding season scheduled to start from 14th November, the day of Dev Uthaan Ekadashi,” said CAIT.

The CAIT National President B C Bhartia and Secretary General Praveen Khandelwal said that in this year’s Diwali festival, there is an estimated business of about 1.25 lakh crore rupees in the entire country which is a record figure ever attained in the last one decade. In Delhi alone, this business was about Rs.25 thousand crores! Bhartia and Khandelwal said that this time Chinese goods were not sold at all in the markets across the country and the special emphasis of the customers was on the purchase of Indian goods, due to which China suffered a direct loss of business worth more than 50 thousand crores. They said that by strengthening the call of Prime Minister Shri Narendra Modi for Atmanirbhar Bharat, traders across the country celebrated Indian Diwali – Local Diwali enthusiastically across the country.

Bhartia and Khandelwal said that the traditional items of the Diwali festival in demand were mostly earthen lamps, the very attractive and colorful decor of earthen Diyas, different kinds of vandanwars, pendants, earthen sticks, toys made of Khand, earthen sandals, candles, and papier-mâché lamps, Rangoli, etc which gave the substantial business to small potters, craftsmen, handicraftsmen. On the other hand items like sweets, dry fruits, packed Namkeen, other food, and packaged items, furnishing fabric, tapestries, footwear, gift items, FMCG goods, electrical and electronic items, watches, consumer products, readymade garments, textiles, packaging goods, toys, series of electric bulbs & electric LED bulbs, decorative items for home decor, builder hardware, paints, kitchen appliances, utensils, furniture & fixtures, fashion clothing, food, grocery, stationery were also in huge demand and it did good business.

The CAIT leaders told that this year, gold jewellery and silverware were purchased for more than Rs.9000 crores. This Diwali also brought a sizeable business to the tune of Rs.15 thousand crores for packaging commodities. This Diwali has inspired traders across the country to adopt new ways of doing business in view of new opportunities and great potential for future business in India.

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