Festive Trade to Cross ₹5 Lakh Crore as Offline Markets Boom
India’s festive season trade is projected to exceed a record ₹5 lakh crore, with traditional offline markets witnessing massive growth while online sales decline sharply, according to the Confederation of All India Traders (CAIT).
Key Takeaways
- Festive trade expected to surpass ₹5 lakh crore
- Offline markets surge as online sales decline
- Swadeshi products dominate Diwali shopping
- Chinese goods vanish from Indian markets
Swadeshi Diwali Drives Record Sales
This year’s Diwali is emerging as a truly Swadeshi celebration, fueled by Prime Minister Narendra Modi’s call for promoting Indian goods and recent GST relaxations. CAIT has confirmed Diwali will be celebrated on October 20th across most of India.
Praveen Khandelwal, MP from Chandni Chowk and CAIT Secretary General, stated the festive sales will significantly boost economic liquidity, strengthen trade, and energize consumer markets.
National Movement for Indian Products
Inspired by PM Modi’s Swadeshi vision, CAIT launched the “Bhartiya Samaan – Hamara Swabhiman” campaign, receiving tremendous nationwide response. Traders have promoted Indian-made goods while consumers show strong confidence in Make in India products.
Major GST rate reductions have strengthened domestic trade and promoted Swadeshi products. As a result, foreign goods – particularly Chinese – have completely vanished from Indian markets this Diwali.
Traditional Shopping Makes Comeback
Markets across India are witnessing unprecedented crowds as the traditional “touch and feel” shopping experience delivers a significant setback to online sales. Both traders and consumers are celebrating what sets a new benchmark in India’s trade history.
Key Growth Categories
Product categories showing massive surge:
- Sweets, dry fruits, food grains
- Readymade garments and textiles
- Consumer durables, electronics, mobiles
- Automobiles and two-wheelers
- Jewellery, gold, silver, coins
- Gift items, decorative materials, puja items
Service sectors benefiting:
- Transportation, packaging, logistics
- Catering, event management
- Beauty salons, travel, hospitality
Auspicious Timings for Mahalakshmi Puja
Acharya Durgesh Tare, Chairman of CAIT’s Veda and Astrology Committee, confirmed the most auspicious timings for Mahalakshmi Puja on October 20th are from 1:38 PM to 7:30 PM and from 10:38 PM to 12:11 AM.
Khandelwal emphasized this festival symbolizes the resurgence of Swadeshi trade, with India’s trading community advancing firmly on the path of .
