market situation
– Photo: Amar Ujala
Expansion
The country's economy is getting a boost from the festive season. Earlier during Navratri, it was estimated that there would be a business of more than Rs 50 thousand crore in just ten days, now it has been said that goods worth Rs 4.25 lakh crore will be purchased on Diwali.
According to this claim of Praveen Khandelwal, National General Secretary of Confederation of All India Traders (CAT) and BJP Lok Sabha MP from Chandni Chowk seat of Delhi, the Indian product 'Sabka Ustad' has made a huge splash on Diwali. It has received a lot of support from customers. Now traders have their eyes set on the wedding season starting from 12th November.
Khandelwal said, the festival of Diwali was celebrated with great enthusiasm, enthusiasm and gaiety in almost every corner of the country. People did Diwali shopping extensively. This is the first Diwali in the country after the construction of Shri Ram temple in Ayodhya, due to which there was more enthusiasm among the people. Along with big businessmen, people doing small business like potters, artisans and people making Diwali items at home have also sold their goods on a large scale. People have provided a big boost to small traders. Like every year, this Diwali too, a significant increase has been seen in the purchase of Indian goods under Prime Minister Narendra Modi's 'Vocal for Local' campaign.
Earthen lamps, idols of God, home decoration items, vandanwar, flowers and leaves, fruits and puja items, colorful electric strings, sweets and snacks, clothes, handicraft items, gift items, footwear, make-up items, cosmetics. There was huge demand for gold and silver jewellery, other items and other household products.
Local traders and artisans have benefited greatly from this. Sales of goods worth Rs 4.25 lakh crore this Diwali is a record business so far. CAT National President BC Bhartia said, according to a rough estimate, of the festival trade of Rs 4.25 lakh crore, about 13% is in food and grocery, 9% in jewellery, 12% in textiles and garments, 4% in dry fruits, sweets and snacks. , 3% Home Decor, 6% Cosmetics, 8% Electronics & Mobiles, 3% Worship Material & Pooja Items, 3% Utensils & Kitchen Appliances, 2% Confectionery & Bakery, 8% Gift Items, 4% Furnishing & Furniture & The remaining 20% ​​has been spent by customers on automobiles, hardware, electrical, toys and many other goods and services. Packing business has also got a big market.
According to CAT officials, Prime Minister Narendra Modi had called for buying locally made goods on Diwali. Its effect has been visible throughout the country. Products made by local manufacturers, artisans and artists from all the cities of the country have been sold in huge quantities. Through this, a unique glimpse of self-reliant India has been seen. Bhartia and Khandelwal said, this year also people have completely given preference to Indian goods while rejecting Chinese products. Traders are excited by this. Traders are now expecting big business in the wedding season starting from Devuthani Ekadashi, 12th November.
People have contributed in strengthening the country's economy by purchasing local products this Diwali. It has been proved again that festivals are a big and integral part of India's economy. There was a significant boom in the economy even during the festival of Navratri. More than Rs 50 thousand crore business was done through Navratri and Ramlila, Dandiya and Garba festivals across the country including Delhi.
It is said that there is a business worth about Rs 5 thousand crore in Delhi alone. According to Khandelwal, festivals like Navratri, Ramleela, Garba and Dandiya, which are celebrated every year for ten days across the country, have given a significant boost to business activities across the country this time. The markets become more vibrant during these festivals. While on one hand traders get huge benefits, on the other hand, lakhs of people also get temporary employment.
