Rs 125 lakh Cr Diwali sales predicted this year by CAIT

New Delhi: With festive season around the corner, Confederation of All India Traders (CAIT) has estimated that sales during this Diwali will touch a turnover of Rs 125 lakh crore.
The Delhi-based traders’ body on Sunday in a statement said: ‘After two years of Covid slump, it is certain that it will be altogether a different Diwali festival this year having some very peculiar features, including repeated boycott of Chinese goods and mass usage of Indian goods strengthening the vision of Vocal for local and AtmNirbhar Bharat.
“Currently, from the day of the first Navratri, the footfall of consumers in offline markets and their inclination towards buying Indian goods indicate better business prospects during upcoming festival period.”
B C Bhartia, National President and Praveen Khandelwal, Secretary General of CAIT said it is expected that Diwali festive sales will touch a turnover of about Rs 125 lakh crore and China will suffer a trade loss of about Rs 50,000 crore for the festival goods which were earlier imported in India.
‘Interestingly, the consumer who was making demands of Chinese goods in the past is now asking the traders not to show him any Chinese goods which is a major shift in consumer behavior,’ they said.
Prominent retail verticals like FMCG goods, consumer durables, toys, electrical appliances and goods, electronic appliances and white goods, kitchen articles and accessories, gift items, confectionary items, sweets, home furnishing, tapestry, utensils, gold and jewelry, footwear, watches, furniture, fixtures, garments, builders hardware, paints, fashion apparels, cloth, home decoration goods, Diwali pooja goods, including clay Diyas, deity idols, wall hangings, handicraft items, textiles, good fortune symbols like Shubh-Laabh, Om, feats of Goddess Lakshmi for home decor and decorative items made by artisans, craftsmen etc. will remain the key goods of sale during festive season, they said. (UNI)