At Rs 1.25 Trillion, Diwali Festive Sale Breaks 10-Year Record: Traders Body

Pic courtesy: ANI

New Delhi: One would have thought that with the mass awareness campaigns and the Supreme Court ban on bursting firecrackers, it would be a subdued Diwali this year. Going by the pollution and business generated, that is clearly not the case.

According to the Confederation of All India Traders (CAIT) festival purchase this year helped generate business worth Rs 1.25 trillion, breaking the past 10 years’ sale record on Diwali, Business Standard reported.

The traders’ body that represents nearly 70 million traders, said the incredible Diwali 2021 sale ended the economic slowdown that had persisted for the last two years.

Encouraged by the unprecedented Diwali business, traders are now bracing themselves for the wedding season that is set to start on November 14, CAIT added.

CAIT National president BC Bhartia and Secretary General Praveen Khandelwal was quoted as saying, “In this year’s Diwali festival, there is an estimated business of about Rs 1.25 lakh crore rupees in the entire country which is a record figure ever attained in the last decade. In Delhi alone, this business was about Rs 25,000 crore.”

They added that this time no Chinese goods were sold and customers emphasised buying made in India goods. Due to this buying trend, China suffered a loss of business amounting to over Rs 50,000 crore.

As for gold jewellery and silverware, sales worth Rs 9,000 crore were made during Diwali 2021. Additionally, packaging commodities worth Rs 15,000 crore were sold this year.