The Confederation of All India Traders (CAIT) on Sunday said that traders recorded sales of around Rs 72,000 crore this Diwali across major markets in the country.
According to a report by Zee News, India's top retail trade body said that the robust sales during the country's Diwali festive period indicate "good business prospects" for small businesses.
According to the traders' body, the business was carried on during this year's Diwali with no Chinese goods on sale amid CAIT's call to boycott Chinese goods. "As per reports gathered from 20 different cities which are also considered to be the leading distribution centers 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," it said in a statement.
Meanwhile, Praveen Khandelwal, CAIT's secretary-general told Reuters: "People didn't purchase anything in the last eight months except essentials. Hence people had enough surplus money, and a portion was spent on Diwali festivities."
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 said.
Twenty cities including Delhi, Mumbai, Chennai, Bengaluru, Hyderabad, Kolkata, Nagpur, Raipur, Bhubaneswar, Ranchi, Bhopal, Lucknow, Kanpur, Noida, Jammu, Ahmadabad, Surat, Cochin, Jaipur, Chandigarh are considered as "distribution cities' by the CAIT for the purpose of its surveys.