New Delhi: India’s retail sector logged its highest-ever festive season sales this year, with Diwali trade touching an unprecedented Rs 5.40 lakh crore in goods and Rs 65,000 crore in services.
A nationwide survey conducted by the Confederation of All India Traders (CAIT) found a 25 per cent rise from the Rs 4.25 lakh crore turnover in 2024.
The survey was carried out by the CAIT Research & Trade Development Society across 60 major distribution centres between Navratri (September 29) and Diwali (October 20) across Tier 1, Tier 2 and Tier 3 cities. It assessed sales trends, consumer sentiment, the effect of new GST regime and the Central government’s ‘Vocal for Local’ campaign.
The record-breaking sales figures were credited to lower GST rates on key consumer goods and the widespread adoption of Swadeshi products, ANI reported.
As much as 87% of consumers preferred Indian-made products, with Indian manufacturers reporting a 25% rise in sales – a reflection on Prime Minister Narendra Modi’s continued push for Aatmanirbhar Bharat initiative.
Traditional brick-and-mortar stores accounted for 85% of total festive sales, thanks to gold and jewellery accounting for 10%, FMCG 12%, electronics 8% and consumer durables (7%).
The service sector — mainly logistics, travel, packaging and hospitality — added Rs 65,000 crore to the festive economy and helped generate 50 lakh temporary jobs.
The Trader Confidence Index rose from 7.8 to 8.6, and the Consumer Confidence Index climbed to 8.4.
The CAIT survey noted that this year’s festive season has set a new benchmark for India’s retail economy, powered by nearly 9 crore small traders and local manufacturers.
The report described PM Modi as a ‘brand ambassador’ for GST relief and Indian-made products, noting that his call to buy local goods resonated across the country.
