Deepavali sees record trade of ₹3.75 lakh crore: CAIT
The Hindu
Indian retail markets registered record trade of ₹3.75 lakh crore during festive season so far, according to traders' body CAIT. PM Modi's appeal to make this Deepavali vocal for local was widely accepted, resulting in Chinese goods losing ₹1 lakh crore in trade. Festivals yet to be solemnised may attract additional trade worth ₹50,000 crore.
Retail markets across India registered a record trade of ₹3.75 lakh crore during this festive season so far, traders' body CAIT said on Monday.
The Confederation of All India Traders (CAIT) stated that festivals like Goverdhan Pooja, Bhaiya Dooj, Chhath Pooja and Tulsi Vivah are yet to be solemnised, which may attract additional trade worth ₹50,000 crore.
"Notably, almost only Indian products were sold and purchased this Deepavali, which is remarkable," it stated.
CAIT Secretary General Praveen Khandelwal said Chinese goods lost a trade of worth more than ₹1 lakh crore during the Deepavali festive season.
"In previous years, Chinese products were occupying nearly 70% market of Deepavali festivals. However, this year, appeal of Prime Minister Narendra Modi to make this Deepavali vocal for local has gone down well and widely accepted and implemented by both traders and consumers," he said.
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