Diwali Shopping Generates ₹1.25 Lakh Crore, Breaks 10-Year Record, Says CAIT

New Delhi: Business to the tune of ₹1.25 lakh crore was generated in this year’s Diwali, the Confederation of All India Traders (CAIT) said on Friday.

According to the traders’ body, people thronged to the markets that helped the businesses and sparked the expectation of better business prospects in the near future. It broke a 10-year record in business.

“For #Diwali festival sales, people thronged the markets and helped in generating huge business to the tune of ₹1.25 lakh crores which is record trade figure in last 10 years on the occasion of Diwali,” CAIT was quoted as saying by news agency ANI.

The figures come as a huge boost to sagging businesses following the restrictions imposed by governments due to the COVID-19 pandemic.

Earlier, the CIAT had estimated a business of about ₹1 lakh crore in all streams during the festival season.

“After a gap of last two years, this year Diwali festival across the country including Delhi has brought a lot of new zeal and freshness which can be well felt from the fact that since last one week the rush of consumers in the markets across the country is tremendous and it appears that they are making up the gap of their two years of purchases,” read the CAIT statement.

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