New Delhi : Hindu married women perform rituals on the occasion of Karva Chauth, in New Delhi, Wednesday, Nov. 1, 2023.(IANS/Anupam Gautam)
As the nation gears up to celebrate Karva Chauth, the Confederation of All India Traders (CAIT) projected that the festival will see business worth Rs 22,000 crore for traders across the country, marking a 46% growth compared to last year’s sales. The festival will be celebrated on October 20.
Last year, sales on Karva Chauth exceeded Rs 15,000 crore. According to CAIT General Secretary and Chandni Chowk MP Praveen Khandelwal, the festival this year is expected to generate Rs 22,000 crore in sales nationwide, with Delhi alone witnessing transactions worth Rs 4,000 crore, breaking all previous records.
Markets Abuzz with Festive Shoppers
“Since the last two days, there has been enthusiasm in the markets,” Khandelwal noted. “From clothes, jewellery, make-up cosmetics, gift items, and puja materials, a lot of shopping is going on.” Delhi’s bustling markets are witnessing a surge in demand as shoppers prepare for the festival, fueling robust business.
In August, the Janmashtami festival generated sales of over Rs 25,000 crore. According to CAIT, this demonstrates the strength of consumer spending in India’s growing economy, which tends to spike during the festive season.
Festive Sales Expected to Cross Rs 4 Lakh Crore
CAIT forecasts that festive sales this year could surpass Rs 4 lakh crore, with the extended festival season starting from Raksha Bandhan on August 19 and continuing until November 15, the day of Tulsi Vivah.
Meanwhile, online e-commerce platforms in India recorded sales worth over Rs 54,500 crore during the first week of the festive season, accounting for 55% of the projected total. According to Datum Intelligence, an industry research firm, this represents a 26% increase compared to the same period last year.
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