Diwali Shopping Generated Business Worth Rs 1.25 Lakh Crore; Breaks 10-Year Record: CAIT

The Confederation of All India Traders (CAIT) stated that Diwali 2021 generated business worth Rs 1.25 lakh crore, which is a record trade figure in the last decade during this auspicious festival.

CAIT further expressed that people crowded the markets which helped the businesses and sparked the expectation of better business prospects in the near future.

“For Diwali festival sales, people thronged the markets and helped in generating huge business to the tune of Rs 1.25 lakh crores which is record trade figure in last 10 years on the occasion of Diwali,” CAIT was quoted in a report by the ANI.

Earlier, CAIT had estimated a business of around Rs 1 lakh crore in all business streams during the Diwali season.

The trade body has also anticipated an infusion of around Rs 3 lakh crore by the end of 2021 amidst the prevalent spending patterns of the consumers.

CAIT is apparently overseeing a ‘new zeal and freshness’ among consumers like as if they are compensating for a ‘gap of almost two years in purchases’.