Over Rs 4.25 lakh cr trade expected around Diwali

The surge in consumer spending across various sectors, will take Diwali season sale to new high as traders across the country are anticipating that the festival season would generate nearly Rs 4.25 lakh crore(excluding auto sales) in business, a growth of over 20 per cent than the last year. Diwali season, along with a series of associated festivals continues till November 12.

Out of the total sales, the share of the northern region comprising Madhya Pradesh, Rajasthan, Delhi, Uttar Pradesh, Uttarakhand, Haryana, Chandigarh, Punjab, Himachal Pradesh, J&K and Ladakh is around 30-35 per cent. Last year, this figure stood at around Rs 3.5 lakh crore.

The season is traditionally a pivotal time for the traders as well as manufacturers as it contributes significant portion of the total sales. According to the Confederation of All India Traders (CAIT), the best thing about the festival is that sales are not restricted to a particular sector but spread across all the sectors such as fruits, sweets, pooja samagri, gift, electronics and white goods.

“We are expecting Diwali sales would touch Rs 4.25 lakh crore. There is no liquidity crunch this year, which is one of the major reasons behind the rise in sales. Besides, increased adult population will drive the sales,” CAIT Secretary General and Member of Parliament from Chandni Chowk, Praveen Khandelwal, said.

Around Diwali, people from all economic groups spend big, making this season particularly significant from a business perspective.

The festive season is traditionally a pivotal time for the automobile industry, especially in the four-wheeler segment, with demand for cars typically experiencing a strong boost. According to the Federation of Automobile Dealers Associations (FADA), the auto industry saw a 25% increase in sales during last year’s festive period. The trend continues this year with early indicators showing a strong rise in footfall.