Finally after two years, the occasion of Holi has brought back cheer for the country’s retailers.

According to the Confederation of All India Traders (CAIT) sales during this festival went up by 30 per cent compared to last year. Estimates indicated that Holi related business worth about Rs 20,000 crore took place in the country.

The CAIT in a statement said that this Holi sales picked up despite Chinese made goods being kept out of the markets.

The outbreak of the pandemic and the Galwan valley clash led to a fall in imports of low value products from China. This has also led to increase in businesses for thousands of Indian manufacturers categorised as small and medium. 

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The Indian cottage industry, which had been facing severe competition from the low priced Chinese goods, has finally got the much required boost as demand for made-in-India lights, household items, gifts and FMCG items among other things has risen significantly in the last one and half years.

“Now having a great enthusiasm from Holi business, the traders across the Country are gearing up for forthcoming wedding season in April-May month which they hope will bring huge business,” CAIT said in a statement.

Sales picked up even during the Diwali celebrations. However, restrictions were reimposed after the Omicron wave hit India in January-February.

Since the outbreak of the Covid 19 pandemic, the retailers –especially the small and medium sized outfits– in the country have suffered the most. Though sales have started picking up, the retail sector is yet to touch the pre-pandemic level turnover.