Festive season to generate over Rs 50,000 cr in business nationwide; Delhi to contribute Rs 8,000 cr
Oct 03, 2024
New Delhi [India], October 3 : The festival season in India has kicked off with celebrations like Navratri, Ramleela, Garba, and Dandiya expected to generate business of over Rs 50,000 crore nationwide, according to an estimate by the Confederation of All India Traders (CAIT).
Delhi alone is projected to contribute over Rs 8,000 crore, as markets are expected to witness a surge in consumer activity, providing a significant boost to traders.
Praveen Khandelwal, CAIT Secretary General and Member of Parliament, emphasised that this year's festive shopping will prominently feature Indian-made products, with declining interest in Chinese goods.
Prime Minister Narendra Modi's "Vocal for Local" and "Atmanirbhar Bharat" initiatives have improved the quality of Indian products, steering consumers towards domestically produced goods.
More than 1 lakh events, including religious, cultural, social, and spiritual programs, will be organised nationwide, providing employment to millions.
With major celebrations like Navratri, Ramleela, Garba, and Dandiya, the festival season will continue with Vijayadashami, Durga Visarjan, Diwali, Chhath Puja, and other major festivities.
Delhi will host over 1,000 Ramleelas and hundreds of Durga Puja pandals, while Garba and Dandiya, traditionally celebrated in Gujarat, will see widespread participation across the country, including in the capital city.
Khandelwal noted the substantial increase in demand for traditional clothing, puja materials, sweets, and decorative items during the festivals.
He further explained that food items and sweets are also highly sought after during festivals. Consumption of sweets such as halwa, laddoo, barfi, and others increases, along with a rise in demand for fruits and flowers.
Decorative items like diyas, torans, rangoli materials, and lighting are also in demand for decorating homes and puja pandals.
Tent houses and decoration companies are expected to see a surge in business due to the large-scale fairs and festival-related events being organized across the country, attracting millions of participants.
