New Delhi [India], October 19 (ANI): The Confederation of All India Traders (CAIT) has projected that trade during this year’s festive season will exceed a record Rs 5 lakh crore, driven by a resurgence in offline markets even as online sales decline sharply.
CAIT highlighted that this year’s Diwali is poised to be a truly Swadeshi celebration, inspired by Prime Minister Narendra Modi’s call to promote Indian goods and supported by recent GST relaxations, sparking widespread festive enthusiasm. Amid some confusion over festival dates, CAIT confirmed that Diwali will be celebrated on October 20 across most of India, including key religious cities such as Ayodhya and Varanasi.
Praveen Khandelwal, Member of Parliament from Chandni Chowk and Secretary General of CAIT, stated that this year’s Diwali is expected to generate festive sales exceeding ₹5 lakh crore, significantly boosting liquidity in the economy, strengthening trade, and invigorating consumer markets. Under the nationwide campaign “Bhartiya Samaan — Hamara Swabhiman” (Indian Goods — Our Pride), traders promoted Indian-made products, reflecting growing pride in the “Make in India” vision.
Khandelwal also noted that major GST rate reductions introduced by the government have strengthened domestic trade and encouraged Swadeshi consumption, resulting in a marked decline in foreign—particularly Chinese—products in Indian markets. Markets across the country are witnessing large crowds this festive season, marking a revival of the traditional “touch and feel” shopping experience, and delivering a significant setback to online sales.
Key product categories seeing a surge 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. Service sectors such as transportation, logistics, catering, event management, beauty, travel, hospitality, and entertainment have also benefited.
Khandelwal remarked that the festival symbolizes not only celebration but also the resurgence of Swadeshi trade, reinforcing India’s path toward Atmanirbhar Bharat (Self-Reliant India) under Prime Minister Modi’s leadership. Acharya Durgesh Tare, Chairman of CAIT’s Veda and Astrology Committee, shared that the most auspicious timings for Mahalakshmi Puja on October 20 will be from 1:38 PM to 7:30 PM and from 10:38 PM to 12:11 AM. (ANI)
About The Author
