- Home
- Live Blog
- Breaking News
- Top Headlines
- Cities
- NE News
- Sentinel Media
- Sports
- Education
- Jobs
New Delhi: This year's Diwali businesses broke all the records as sales crossed Rs 1.25 lakh crore, said Confederation of All India Traders (CAIT).
The record sales ended the economic slowdown in business which continued in the markets for the last two years.
''The Diwali sales have created the spark for better business prospects among the business community in the near future,'' the traders body said in a statement.
CAIT further said that encouraged by tremendous Diwali business, the traders across the country are now gearing up for the sale of the wedding season scheduled to start from November 14, the day of Dev Uthaan Ekadashi.
''This year's Diwali festival, there is an estimated business of about 1.25 lakh crore rupees in the entire country, which is a record figure ever attained in the last one decade. In Delhi, alone, this business was about Rs 25,000 crores," said CAIT Secretary General Praveen Khandelwal.
Khandelwal also asserted that this time Chinese goods were not sold at all in the markets across the country and the special emphasis of the customers was on the purchase of Indian goods, due to which China suffered a direct loss of business worth more than Rs 50,000 crores.
According to CAIT, this year saw the traditional items of Diwali festival in high demand - earthen lamps, colorful decor of earthen Diyas, different kinds of vandanwars, pendants, earthen sticks, toys made of Khand, earthen sandals, candles and paper mache lamps, which gave substantial business to small potters, craftsmen, handicraftsmen.
On the other hand, items like sweets, dry fruits, LED bulbs, home decor and so on, were also in huge demand and they did good business.
Data analysis showed gold jewellery and silverware worth Rs 9,000 crore were sold this festive season. This Diwali also brought a sizeable business to the tune of Rs15,000 crores for packaging commodities.
Also watch: