New Delhi [India], October 19 : The Confederation of All India Traders (CAIT) on Sunday stated that trade during the festive season is expected to surpass a record Rs 5 lakh crore, with offline markets witnessing a surge, even as online sales experience a sharp decline.
The trade body said that this year's Diwali is shaping up to be a truly Swadeshi celebration, with Prime Minister Narendra Modi's call for promoting Indian goods and recent GST relaxations sparking a nationwide festive boom.
Amidst some confusion over the festival date, CAIT has confirmed that Diwali will be celebrated on October 20th across most of India, including key religious cities such as Ayodhya and Varanasi.
Praveen Khandelwal, Member of Parliament from Chandni Chowk, Delhi, and Secretary General of CAIT, stated that this year's Diwali is expected to generate festive sales exceeding ₹5 lakh crore, which will significantly boost liquidity flow in the economy, strengthen trade, and inject new enthusiasm into the consumer market.
Khandelwal said that, inspired by Prime Minister Narendra Modi's call for "Swadeshi" (local products), CAIT has resolved to celebrate this year as "Swadeshi Indian Diwali." Under this initiative, CAIT launched a nationwide campaign titled "Bhartiya Samaan Hamara Swabhiman" (Indian Goods Our Pride), which has received tremendous response across the country.
Traders nationwide have promoted Indian-made goods, while consumers have shown remarkable pride and confidence in the "Make in India" vision.
He further added that major GST rate reductions introduced by the Modi Government have given new strength to domestic trade and played a crucial role in promoting Swadeshi products.
As a result, foreignparticularly Chinesegoods have completely vanished from Indian markets this Diwali. CAIT's "Boycott Chinese Goods" campaign, initiated in 2021, has now transformed into a national movement, with both traders and consumers united in rejecting Chinese products.
Markets across the country are witnessing massive crowds this festive season. The traditional "touch and feel" shopping experience has made a comeback, delivering a significant setback to online sales. Traders are jubilant, consumers are delighted and this Diwali has truly set a new benchmark in India's trade history.
Key product categories witnessing a massive surge in sales include sweets, dry fruits, fruits, food grains, readymade garments, textiles, consumer durables, electronics, mobiles, televisions, refrigerators, washing machines, air conditioners, automobiles, two-wheelers, jewellery, gold, silver, coins, gift items, decorative materials, puja items, earthen diyas, lighting products, and furnishing fabrics.
Additionally, several service sectors have also greatly benefited from the Diwali season, including transportation, packaging, logistics, catering, event management, beauty salons, travel, hospitality, and entertainment industries.
Khandelwal remarked that this festival is not only a celebration of lights but also a symbol of the resurgence of Swadeshi trade. Under the leadership of Prime Minister Modi, India's trading community is moving firmly ahead on the path of Atmanirbhar Bharat (Self-Reliant India).
Acharya Durgesh Tare, Chairman of CAIT's Veda and Astrology Committee and a renowned scholar from the holy city of Ujjain, stated that on October 20th, the most auspicious timings for Mahalakshmi Puja will be from 1:38 PM to 7:30 PM and from 10:38 PM to 12:11 AM.
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