Diwali this year has spelt good business for traders after months of subdued demand.
The Confederation of All India Traders (CAIT) said, merchants recorded sales of around Rs 72,000 crore this Diwali across major markets in the country.
Prime Minister Narendra Modi in ‘Mann Ki Baat’, urged people to go ‘Vocal for Local’ while celebrating festivals.
According to the traders’ body, the business was carried on during this year’s Diwali with no Chinese goods on sale amid CAIT’s call to boycott Chinese goods.
“As per reports gathered from 20 different cities which are also considered to be the leading distribution centers of India, it is expected that Diwali festive sales generated a turnover of about Rs 72,000 crores and gave China the expected loss of Rs 40,000 crore,” it said in a statement.
Twenty cities including Delhi, Mumbai, Chennai, Bengaluru, Hyderabad, Kolkata, Nagpur, Raipur, Bhubaneswar, Ranchi, Bhopal, Lucknow, Kanpur, Noida, Jammu, Ahmadabad, Surat, Cochin, Jaipur, Chandigarh are considered as “distribution cities’ by the CAIT for the purpose of its surveys.
FMCG goods, consumer durables, toys, electrical appliances and goods, electronic appliances and white goods, kitchen articles and accessories, gift items, confectionary items, sweets, home furnishing, tapestry, utensils, gold and jewellery, footwear, watches, furniture, fixtures, garments, fashion apparels, cloth, home decoration goods were among the products most purchased on Diwali, it said.
This Diwali was indicative of a positive graph in business, and brought smiles all around.