At a time when markets across the world are volatile due to inflation and unrest, India’s turnover during the ongoing festive season is expected to exceed Rs 7 lakh crore, while Delhi alone is likely to record trade worth approximately Rs 80,000 crore to Rs 1 lakh crore. Just a day after four major Asian markets fell, colourful flower garlands, sparkling lights, decorative items and bustling stalls marked the festive atmosphere across the country, as a sea of shoppers thronged markets for last-minute Diwali purchases.
According to the Confederation of All India Traders (CAIT), from Navratri to Diwali, the nationwide business turnover during the ongoing festive season is expected to exceed Rs seven lakh crore. It has already crossed 6.5 lakh crore, driven by strong consumer demand across several product categories. The trading body attributed the surge to heavy footfall in markets and robust buying sentiment.
In Delhi markets, including Mehrauli’s wholesale flower market, Sarojini Nagar, Lajpat Nagar, Sadar Bazar and Karol Bagh, devotees and shoppers were chock-a-block.
Following Navratri and Durga Puja, major festivals such as Dussehra, Karwa Chauth, Dhanteras, Diwali, Govardhan Puja, Bhai Dooj, Chhath Puja, Guru Nanak Jayanti and Tulsi Vivah are celebrated on a grand scale across the country, generating extensive commercial activity.
Gold, silver, and jewellery, along with electronic goods and home appliances such as mobile phones, LED televisions, refrigerators, washing machines, and air conditioners, saw strong demand.
Clothing and fashion products, including sarees, suits, kurtas, readymade garments, children’s wear and traditional attire, also recorded brisk sales. Demand for festive essentials such as earthen diyas, idols of Goddess Lakshmi and Lord Ganesha, puja materials, sweets and food products remained high.
The automobile sector, including cars, two-wheelers and commercial vehicles, also witnessed encouraging demand. Handicrafts and Swadeshi products, including khadi, handloom items, handcrafted decorations and goods made by local artisans and women’s self-help groups, recorded robust sales.
According to CAIT’s assessment, the estimated sector-wise distribution of festive trade from Navratri to Diwali is likely to be as follows: groceries and FMCG, 12%; gold, silver and jewellery, 10%; electronics and electrical goods, 8%; consumer durables, 7%; readymade garments, 7%; gift items, 7%; home décor, 5%; furniture and furnishings, 5%; sweets and savouries, 5%; textiles and fabrics, 4%; puja items, 3%; fruits and dry fruits, 3%; bakery and confectionery, 3%; footwear, 2%; and other goods and related business activities, 19%.
CAIT Secretary General and MP Praveen Khandelwal said Diwali-related trade in Delhi had crossed Rs 1 lakh crore, while nationwide business had exceeded Rs 6 lakh crore. Given the continued increase in customer footfall and strong buying sentiment, the overall figure was expected to surpass Rs 7 lakh crore, he added.
According to CAIT, the surge in festive business has generated significant economic benefits for small and medium-sized traders, street vendors, daily-wage workers, micro and cottage industries, self-help groups, women entrepreneurs, artisans, transport operators, packaging businesses and logistics and delivery services.
Khandelwal said consumer preferences had increasingly shifted towards Indian products, reflecting the impact of Prime Minister Narendra Modi’s appeals for ‘Vocal for Local’, ‘Aatmanirbhar Bharat’ and the promotion of Swadeshi goods. He said Indian artisans, domestic manufacturers, small-scale industries, and local entrepreneurs received substantial support from consumers during the festive season.
Commenting on the impact of the festive shopping surge in Delhi, the BJP MP said the strong market turnout had provided fresh momentum to commercial activities following business losses allegedly suffered due to the Opposition rally on November 1 and protests and demonstrations across the capital over the past month. He said millions of traders, shopkeepers, street vendors, daily-wage workers and small entrepreneurs had benefited from the increased festive spending.
Khandelwal added that while peaceful protests and demonstrations were a democratic right, political activities should not disrupt public mobility, traders’ livelihoods or the daily earnings of millions of families.
On behalf of Delhi’s trading community, CAIT thanked residents for their enthusiasm and participation in this year’s Diwali celebrations.