After a long lull, the markets across the country once again started buzzing giving a much needed respite to traders.
The marketing activities are at its peak due to the reduced number of the coronavirus positive persons and increased level vaccination.
Apart from this, the festive season gave a tremendous push to the markets. There was a huge rush of buyers in jewellery markets, showrooms of ready-made garments, white goods and many other retail stores.
In all the city’s marketing areas, there was an increased number of footfalls. Itwari, Gandhibagh, Sitabuldi, Gokulpeth, Golibar Chowk, Central Avenue, Kamal Chowk and Sadar among other places have witnessed people overcrowding the shops and showrooms during the festive season. On Diwali the buyers thronged the markets fiercely and generated huge business for the traders who had bore the burnt of recent lockdowns.
The Confederation of All India Traders (CAIT) said that a business to the tune of Rs 1.25 lakh crore has been recorded during the festive season which is a record in the last 10 years on the occasion of Diwali. “Such a massive shopping has ended the economic slowdown in business which has continued in the markets for the last two years,” CAIT said. It has also awakened the spark of better business prospects among the business community in the near future.
In many ways this Diwali was completely different from the previous years and the countrymen also celebrated the festival of Diwali with full gusto. Excited and encouraged by the tremendous Diwali business, the traders are now gearing up for the sale of the wedding season scheduled to start from November 14, the day of Dev Uthaan Ekadashi, CAIT added. CAIT National President B C Bhartia and Secretary General Praveen Khandelwal said that in this year’s Diwali festival, there is an estimated business of about Rs 1.25 lakh crore in the entire country, a record figure ever attained in the last one decade.
Bhartia and Khandelwal further said 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 crore.
Bhartia and Khandelwal said that the traditional items of Diwali festival in demands were mostly earthen lamps, very attractive and colourful decor of earthen diyas, different kinds of pendants, earthen sticks, toys made of Khand, earthen sandals, candles and lamps, rangoli etc., which gave substantial business to small potters, craftsmen, handicraftsman.
On the other hand items like sweets, dry fruits, packed namkeen other food and packaged items, furnishing fabric, tapestries, footwear, gift items, FMCG goods, electrical and electronic items, watches, consumer products, readymade garments, textiles, grocery, stationery were also in huge demand and it did good business. Bhartia and Khandelwal said that this year, gold jewellery and silverware were purchased for more than Rs 9,000 crore.