Diwali Business / How much business is done in the country during Diwali, these items are sold the most

Diwali is an important economic occasion in India. This year, trade is estimated to be worth Rs 4.25 lakh crore, with the highest spending expected on automobiles and electronic goods. Business is also expected to increase in tier-1 and tier-2 cities, benefiting traders.

Vikrant Shekhawat : Oct 31, 2024, 03:40 PM

Diwali Business: The festival of Diwali not only holds religious and cultural importance in India, but it is also a major economic event. On this occasion, people consider shopping auspicious and hence most people plan to shop on this day for several months. This brings vibrancy in the market, and every small and big businessman gets its benefit.

Business forecast

The Confederation of All India Traders (CAIT) estimates that this year on Diwali, there will be a business of about Rs 4.25 lakh crore across the country. This figure is not only for big cities, but tier-1 and tier-2 cities are also expected to have good business this year. People are ready to spend on a variety of goods, which creates a festive atmosphere in the market.

Shopping preferences

According to a research conducted by Tata Fintech's Market Brew, if there is a business of Rs 100 across the country on Diwali, then the highest expenditure by Indians will be on automobiles, electronic goods etc. The expenditure on this can go up to Rs 25. After this, Indians are expected to spend Rs 13 on food and grocery.

This year, due to rising gold prices, up to Rs 9, i.e. 9 per cent, can be spent on jewelry. Apart from this, other categories of spending on Diwali are as follows:

Rs 12 on clothes or textiles

Rs 4 on dry fruits and sweets

Rs 3 on home decor

Rs 6 on cosmetics

Rs 8 on mobile and gadgets

Rs 3 on puja items

Rs 3 on kitchen items

Rs 2 on bakery products

Rs 8 on gift items

Rs 4 on furniture

Increase in business

Market Brew estimates that this year Diwali may generate Rs 1 lakh crore more business than last year. In the year 2023, there was a turnover of about Rs 3.5 lakh crore. This increase is like a celebration for traders, as on this day they start their new accounts.

Conclusion

The festival of Diwali not only brings the message of happiness to homes, but it also gives impetus to economic activities. The shopping spree benefits all the traders and a new enthusiasm is seen in the market. This Diwali, people will spend on their favorite things as well as celebrate happiness with their family and friends. This festival is not only a special day, but it also positively affects the economy of the entire country.