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CAIT Estimates Rs 1 Lakh Cr Business This Diwali

The trade body expressed its pleasure that people across the country are emphasising the purchase of traditional items for decorating homes or offices and for Diwali pooja, as compared to more flashy Chinese items.

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Amid the ongoing Coronavirus pandemic which resulted in a dull festival season last year, trade body the Confederation of All India Traders (CAIT), on Wednesday, said that it has expected a total of Rs 1 lakh crore business this Diwali.  

The trade body estimated that overall this year, Diwali will have a business of about Rs 1 lakh crore in all streams of business. By the end of this year, there will be an infusion of about 3 lakh crore by way of spending by consumers. 

"After a gap of last two years, this year Diwali festival across the country including Delhi has brought a lot of new zeal and freshness which can be well felt from the fact that since last one week the rush of consumers in the markets across the country is tremendous and it appears that they are making up the gap of their two years of purchases," CAIT said in a statement. 

Also, the trade body expressed its pleasure that people across the country are emphasising the purchase of traditional items for decorating homes or offices and for Diwali pooja, as compared to more flashy Chinese items. 

CAIT Secretary General Praveen Khandelwal informed that CAIT Trade and Research Development Society, the research arm of CAIT, had conducted a survey in the recent past among the traders in different cities of the country. On the basis of which it found out that after a long time people are more inclined towards India made goods this year. 

It also said that this year the packaging business has grown very fast across the country. According to an estimate, the packaging business this Diwali has been worth about 15 thousand crores. There has been a lot of demand for packaging paper and many types of ribbons and other decorative items to make it attractive.


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