Indian Traders Anticipate Rs 4.25 Lakh Crore Business During Festive Season
Traders across India are expecting a business boom worth Rs 4.25 lakh crore during this year’s festive season, according to a study by the Confederation of All India Traders (CAIT). The festive excitement, which began with Raksha Bandhan, is set to continue until Diwali. The study surveyed 70 major trading hubs and found that traders are well-prepared to meet consumer demands.
Based on strong sales during festivals like Raksha Bandhan, Ganesh Puja, Navratri, Durga Puja, and Dussehra, traders are optimistic about significant growth during Diwali. Last year’s festive business was around Rs 3.5 lakh crore, and this year, Delhi alone is expected to see over Rs 75,000 crore in business. Following Diwali, the wedding season is anticipated to further boost sales.
CAIT National President B.C. Bhartia noted that there will be high demand for items such as gifts, sweets, electronics, clothing, and more. The service sector, including hotels and event management, is also expected to benefit from the festive events.
The Diwali season includes festivals like Ahoi Ashtami, Dhanteras, Diwali, Govardhan Puja, Bhai Dooj, Chhath Puja, and Tulsi Vivah. Bhartia emphasized Prime Minister Narendra Modi’s call to buy locally-made products, which has influenced consumer behavior. CAIT has encouraged traders to support local manufacturers, aligning with the Aatmanirbhar Bharat vision. Notably, traders have avoided importing Chinese products, and consumers are also steering clear of them due to China’s actions against India.
Doubts Revealed
Rs 4.25 Lakh Crore -: Rs 4.25 Lakh Crore means 4.25 trillion rupees. In India, a lakh is 100,000, so 4.25 lakh crore is a huge amount of money, showing how much business traders expect to do.
CAIT -: CAIT stands for the Confederation of All India Traders. It is an organization that represents the interests of traders and small businesses in India.
Raksha Bandhan -: Raksha Bandhan is a popular Indian festival where sisters tie a protective thread called ‘rakhi’ on their brothers’ wrists, and brothers give gifts in return. It celebrates the bond between siblings.
Diwali -: Diwali, also known as the Festival of Lights, is one of the biggest and most important festivals in India. People celebrate it by lighting lamps, bursting fireworks, and sharing sweets.
Aatmanirbhar Bharat -: Aatmanirbhar Bharat means ‘Self-Reliant India.’ It is a campaign launched by the Indian government to encourage local production and reduce dependence on imports, especially from countries like China.
