Ease of doing business for MSMEs: CAIT also mentioned that China has suffered a direct loss of trade of around Rs 75,000 crore as India did not import any Diwali-related items from China this year.
The main focus of consumers for the festive season is home decor items, Diwali puja items including earthen diyas, deities, wall hangings, handicraft items and traditional good luck charms.
Ease of doing business for MSMEs: This year Diwali festival sales will be more than Rs 1,50,000 crore across the country as compared to the year 2019 when the figure was around Rs 90,000 crore, said National President, BC Bhartia and General Secretary of Confederation Praveen Khandelwal of All India Traders (CAIT).
Buoyed by the booming business after the pandemic, the statement from the traders' body said that the increase of Rs 60,000 is very satisfactory and quite encouraging. The business of the festive season is believed to start from the first Navratri on 5th November this year till Tulsi Vivah.
Bhartia and Khandelwal also said that government initiatives such as Vocal for Local and Atmanirbhar Bharat have had a huge impact on consumers across the country and are increasing the demand for Indian products. The industry body said China-based products which were often sold at cheaper prices during the festive season are almost absent in markets across the country.
The body also noted that China has suffered a direct loss of trade worth about Rs 75,000 crore as India did not import any Diwali-related items from China this year.
The main focus of consumers for the festive season is home decor items, Diwali puja items including earthen diyas, deities, wall hangings, handicraft items and traditional good luck charms. Apart from this, FMCG goods, consumer goods, toys, electronics, power tools and accessories, kitchen items and other appliances, confectionery, snacks, home furnishing, textiles are the other major verticals which will register bumper business this year.
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