Festive Season to Ignite Record High Rs 4.25 Lakh Crore Business in India, Predicts CAIT

The Confederation of All India Traders (CAIT) forecasts a business surge of Rs 4.25 lakh crore during the festive season, fueled by high consumer demand between Raksha Bandhan and Diwali. Traders prepare for growth in various sectors by focusing on local products, amidst rising anti-China sentiments among Indian consumers.

A recent study by the Confederation of All India Traders (CAIT) has revealed a thriving business climate across India, predicting a record Rs 4.25 lakh crore in transactions during the current festive season. The report highlights growing consumer enthusiasm starting from Raksha Bandhan and extending through Diwali, marking a promising outlook for various trade sectors.

In examining 70 key trading hubs nationwide, the survey underlines traders' meticulous preparations to satisfy changing consumer preferences and demand spikes. Sales have shown positive trends during festivals like Raksha Bandhan, Ganesh Puja, Navratri, and Dussehra, inspiring trader optimism for additional growth by Diwali. Last year, the festive market generated nearly Rs 3.5 lakh crore; this year, projections for Delhi alone exceed Rs 75,000 crore. Following Diwali, the anticipated wedding season is also expected to further drive sales.

CAIT National President B.C. Bhartia points to a significant increase in demand for diverse goods and services, with heightened interest in gifts, electronics, and automobiles, among many other categories. The hospitality and service sectors are also set to benefit from a myriad of events across the country. The festive timeline culminating at Diwali includes Ahoi Ashtami, Dhanteras, Govardhan Puja, and more, with a conscious shift towards locally-sourced products, encouraged by Prime Minister Narendra Modi's initiatives. CAIT reports no Chinese imports for this season, as traders and consumers reject China's goods due to geopolitical tensions.

(With inputs from agencies.)