CAIT Predicts Rs 12,000 Crore Festive Trade for Rakhi Festival in India

New Delhi, India – The Confederation of All India Traders (CAIT) has forecasted a festive trade of over Rs 12,000 crore across the country during the Rakhi festival. The markets are bustling with enthusiastic shoppers, and there is a notable preference for Indian-made Rakhis over Chinese ones.

Praveen Khandelwal, CAIT’s National General Secretary and Member of Parliament from Chandni Chowk, highlighted that this year’s trade is expected to surpass last year’s Rs 10,000 crore. He provided a historical trade comparison, noting that in 2022, the business was around Rs 7,000 crore, in 2021 it was Rs 6,000 crore, in 2020 it was Rs 5,000 crore, in 2019 it was Rs 3,500 crore, and in 2018 it was Rs 3,000 crore.

CAIT’s National President, B.C. Bhartia, and Khandelwal mentioned that this year, special types of Rakhis have been crafted from famous products of various cities. These include Khadi Rakhi from Nagpur, Sanganeri Art Rakhi from Jaipur, Seed Rakhi from Pune, Woolen Rakhi from Satna, Bamboo Rakhi from tribal items, Tea Leaf Rakhi from Assam, Jute Rakhi from Kolkata, Silk Rakhi from Mumbai, Date Rakhi from Kerala, Pearl Rakhi from Kanpur, Madhubani and Maithili Art Rakhi from Bihar, Soft Stone Rakhi from Pondicherry, and Flower Rakhi from Bangalore.

There is also a high demand for Rakhis that display national pride, such as Tricolor Rakhi, Vasudhaiva Kutumbakam Rakhi, and Bharat Mata Rakhi. Designer and silver Rakhis are also popular among customers.

CAIT representatives expect festive sales to exceed Rs 4 lakh crore due to the extended festival period from August 19 to November 15, ending with Tulsi Vivah. This period includes festivals like Janmashtami, Ganesh Utsav, Navratri, Durga Puja, Dussehra, Karva Chauth, Dhanteras, Diwali, Govardhan Puja, Bhai Dooj, and Chhath Puja. Traders are well-prepared to meet consumer demands with adequate stock of all products.