Confederation of All India Traders (CAIT), announced that the indigenous traders recorded a profit of around Rs 72,000 crore during Diwali sales across the major markets of the country. The trader’s board confirmed that this year’s business Diwali business was carried out excluding the sales of Chinese goods due to CAIT’s as well as the country’s call to boycott Chinese goods.
“As per reports gathered from 20 different cities which are also considered to be the leading distribution centres of India, it is expected that Diwali festive sales generated a turnover of about Rs 72,000 crores and gave China the expected loss of Rs 40,000 crore,” CAIT said in a statement.
CAIT considers twenty cities including Delhi, Mumbai, Chennai, Bengaluru, Hyderabad, Kolkata, Nagpur, Raipur, Bhubaneswar, Ranchi, Bhopal, Lucknow, Kanpur, Noida, Jammu, Ahmadabad, Surat, Cochin, Jaipur, Chandigarh as “distribution cities` for its survey purposes.
It mentioned that the sturdy sales that happened during this year’s Diwali and festive season’s market indicate positive business prospects in the near future and brought a sense of relief and security to the traders.
“FMCG goods, consumer durables, toys, electrical appliances and goods, electronic appliances and white goods, kitchen articles and accessories, gift items, confectionary items, sweets, home furnishing, tapestry, utensils, gold and jewellery, footwear, watches, furniture, fixtures, garments, fashion apparels, cloth, home decoration goods were among the products most purchased on Diwali,” it stated.