Diwali 2024: Both traders and customers are very excited to celebrate India’s biggest festival Diwali and the series of other festivals associated with it. This is the reason that this time during the festival season from Rakshabandhan to Diwali, there is a possibility of business worth about Rs 4.25 lakh crore in the country’s markets.
Business organizations expect great sales
National General Secretary of CAT and MP from Chandni Chowk, Praveen Khandelwal said that during the festival season, about 70 crore customers shop in the markets and while there are people who buy Rs 500 or less, there is also a shortage of people who spend thousands and lakhs of rupees. Not there. That is why this festival season in the country is considered very important from business point of view.
Confederation of All India Traders (CAIT) has conducted a recent survey among trader organizations in 70 cities of many states of the country which are considered centers of business distribution. This year, traders across the country have made extensive preparations to meet the demands and preferences of customers on a large scale. Looking at the way customers made huge purchases in the markets across the country this time on Raksha Bandhan, Ganesh Puja, Navratri, Durga Puja and Dussehra, there is a big possibility of this year’s festive season business being worth Rs 4.25 lakh crore. . Last year this figure was of business worth around Rs 3.5 lakh crore.
Trade figure in Delhi is more than Rs 75 thousand crore – CAT
This festival trade figure in Delhi alone is going to be more than Rs 75 thousand crore. After the festive season, the wedding season will start immediately in which traders across the country are expecting big business.
Especially gift items, sweets and snacks, dry fruits, electronics, automobiles, clothes, jewellery, textiles, utensils, crockery, mobiles, furniture, furnishing, kitchen appliances, home decor items, footwear, cosmetics, cosmetics, Computers and IT equipment, stationery, electrical goods, fruits, flowers, puja materials, earthen lamps and other items made by potters, pictures of Gods, idols, hardware, paints, fashion items, food items, FMCG goods, grocery, soft drinks, confectionary, edible oil, readymade food, toys etc. will be sold heavily.
Profit due to increase in weddings and festival programs
Due to thousands of functions taking place across the country, hotels, restaurants, banquet halls, catering, event management, cab service, delivery sector, artists and other similar categories related to the service sector will also get huge business profits.
Know how much will be spent in which business
According to a rough estimate, of the estimated festival trade of Rs 4.25 lakh crore, about 13 percent will be in food and grocery, 9 percent in jewellery, 12 percent in textiles and garments, 4 percent in dry fruits, sweets and namkeens, 3 percent in home furnishing, Cosmetics, 8 per cent electronics and mobiles, 3 per cent puja materials and puja items, 3 per cent utensils and kitchen equipment, 2 per cent confectionery and bakery, 8 per cent gift items, 4 per cent furnishing and furniture and the remaining 20 per cent automobile, hardware, electrical, toys. Consumers are expected to spend on many other goods and services. He told that the packing sector will also get big business during festivals.
Boycott of Chinese goods is happening
Prime Minister Narendra Modi had urged the countrymen to buy locally made goods during festivals, following which a huge emphasis has been seen on local shopping. CAT has also urged business organizations across the country to cooperate in marketing the products made by local manufacturers, artisans and artists of their cities. Due to Vocal for Local and Self-reliant India campaign, the demand for Chinese goods has decreased to a great extent in the last years. It is believed that no Chinese goods will be sold in the markets during this year’s festival season.
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