As the festival of Diwali is getting closer, there is also increasing rage in the markets of the whole country. The crowd of people in the decorated markets, the excitement of shopping and the glow of indigenous products are making this year’s Diwali special.
According to the Confederation of All India Traders (CAIT), this time the sales on Diwali are going to cross the historic figure of Rs 4.75 lakh crore, which is being considered the strongest festive season in the last decade.
‘Vocal for Local’ became game changer for traders
MP from Chandni Chowk seat in Delhi and National General Secretary of CAIT, Praveen Khandelwal said that the reduction in GST rates by Prime Minister Narendra Modi and ‘Swadeshi’ and ‘Vocal for Local’ campaign has brought a big change for the merchant community. He said, ‘This Diwali will illuminate the lives of millions of traders, manufacturers, artisans and people associated with the service sector, “he said.
Markets shine with the brightness of indigenous products
Khandelwal said that from the traditional markets of the country to the modern mall, the demand for indigenous products everywhere has put a new life. The enthusiasm of consumers is being made, people of every class are shopping according to their ability. This festival is highlighting the real strength of India’s domestic economy, where crores of families are spending small and big, which is benefiting every business class.
While crores of people are shopping for 500 rupees or less on Diwali, on the other hand, millions of consumers are spending thousands of millions of rupees. This diversity and enthusiasm is making this season the golden time for the retail sector of India.
Estimates of historical trade worth 4.75 lakh crores
According to CAIT, this year’s total trade is estimated at around Rs 4.75 lakh crore. The division of expenditure in it is something as follows-
13% – food items and grocery
3% – fruit and dry fruit
4% – sweets and salty
12% – Clothing and Apparel
4% – Electrical goods
8% – Electronic Products
3% – Builders Hardware
3% – Home Decor
6% – cosmetics and personal care
3% – utensils and kitchenware
3% – worship material
2% – Confectionery and Bakery
4% – Fernishing and Furniture
8% – gift item
24% – Miscellaneous items and services, such as automobiles, toys, packaging, travel etc.
Traders across the country say that this time consumers are seeing inclination towards indigenous products instead of foreign goods. This is not only giving strength to the local industries, but the vision of Prime Minister Modi’s self -sufficient India is also getting new strength.
Service sector gets new energy
The impact of Diwali celebration was not limited to markets only. There has been a flood of work and business opportunities in every field, up to hotels, restaurants, banquet halls, catering, event management, taxi services, decorators, musicians and artists. Khandelwal said, ‘Diwali is not only the festival of lighting the lamp, but is a festival to give energy to India’s economic system.’
Khandelwal has appealed to the traders of the country to promote indigenous goods and provide products to customers with quality and authenticity. He said, ‘Every rupee spent in India this Diwali will empower any Indian enterprise. This festival will prove to be a historic turn for the country’s domestic retail economy.
Also read:- ‘Congress chose enemies, not India’, BJP said on allegations of giving Russian JF-17 engine to PAK