An estimated business of about Rs 1.25 lakh crore rupees took place during this year’s Diwali celebrations across the country. With vaccinations crossing the 1-billion milestone, citizens have taken a sigh of relief amid the Covid-19 pandemic. Even though the threat of the virus still lingers on, life is slowly getting back on track. Therefore, this year, people thronged markets for festival purchases, and assisted traders to generate business worth Rs 1.25 trillion. According to the Confederation of All India Traders (CAIT), the trade figure broke the past 10 year’s sale record on Diwali.
The trader’s body, which represents nearly 70 million marketeers in the country, told Business Standard that the incredible Diwali 2021 sale has ended the economic slowdown, which was persisting for the last two years. The unexpected Diwali business has encouraged and boosted the morale of traders, who are hoping the momentum to continue during the upcoming wedding season. The wedding season is all set to commence from November 14.
CAIT national president BC Bhartia and secretary general Praveen Khandelwal informed that an estimated business of about Rs 1.25 lakh crore took place during this year’s Diwali festivities across the country. It is a record figure ever attained in the last decade by India. He said that in Delhi alone, the business was about Rs 25,000 crore.
The report stated that this time, customers emphasised on buying made-in-India goods only, while Chinese items were altogether ignored. Due to this buying trend, China is said to have suffered a loss of business amounting to over Rs 50,000 crore.
As per CAIT, the traditional Diwali items like earthen lamps, paper mache lamps, candles and lights were in high demand which has brought in substantial business to Indian craftsmen. Other popular products were home decor, dry fruits, sweets, clothing, watches, footwear, and toys.
As far as gold jewellery and silverware are concerned, sales worth Rs 9,000 crore were made during Diwali. Packaging commodities worth Rs 15,000 crore were sold this festive season.
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