Jump in Diwali sales brings back cheer for Indian retailers

This year Diwali has finally brought back cheer to the country’s retailers after being hit by Covid restrictions for the last couple for years. According to an estimate by the Confederation of All India Traders (CAIT), offline sale alone during the Diwali period stood at about Rs 1.75 lakh crore, a jump of 40 per cent compared to Rs. 1.25 lakh crore recorded last year.

CAIT also claimed that demand for Chinese goods was also significantly less.

After the Diwali festivity, traders have started preparing for the wedding season. “We expect huge sales driven by pent up demand especially after the Covid 19 pandemic and this will be good for the country’s retailers,” CAIT’s Secretary General Praveen Khandelwal said.

CAIT also said that Prime Minister Narendra Modi’s campaign of Vocal for Local and Atmnirbhar Bharat has had a huge impact on consumers across the country. “There is also awareness among customers, who are now demanding only Indian products,” Khandelwal said.

Also read: Why a surge in imports from China may not be bad for India