OUR STAFF REPORTER BHOPAL
Citys wholesale business recorded alt39 zero businessalt39 while retail market ( garment, cosmetic, dry fruits) witnessed bullish trend on Rakhi festival.
The retail market recorded 25 to 30 per ce
nt growth on Rakhi on Saturday. The market is now expected to maintain its bullish trend as series of festivals like Ganesh Chaturthi, Ramadan, Durga Puja are round the corner.
According to traders, the garment, cosmetic, dry fruits market witnessed bullish trend and registered boom with 25 per cent to 30 per cent growth on festival. Sweet business showed down fall in business due to continuous raid of Food and Drug Administration on alt39 mawaalt39 ( solidified milk product), which is mainly used in the preparation of sweets.
Off late, 14 quintal mawa was seized in the city and this made the people alert and aware of sweets on festival during rainy seasons.
Akhil Bharatiya Vyapar Mandal general secretary Anupam Agrawal said, ” Our wholesale market is totally closed due to festival and it will remain closed for three more days on Sunday and Monday due to Independence Day. As far as retail market is concerned, it witnessed a boom in the market particularly garment, dry fruits and others registered a growth of 25 to 30 per cent”. Commenting on the Food and Drug Administration raids, Agrawal said, ” FAD raids to seize adulterated material and even people avoid sweets on festival.
Therefore, market of dry fruits picked up on festival.
The market is expected to witness boom as series of festivals are coming”.