Turnover of Rs.72,000 crores on Diwali sales amid boycott of Chinese products.
On 15th November, Confederation of All India Traders (CAIT) representing 7crore traders and 40000 trade associations that has been campaigning to boycott Chinese products in our country stated that, amid Pandemic traders recorded a turnover of Rs.72000 crores on Diwali sales across the major markets of India without Chinese products.
According to the reports, 20 cities including Delhi, Mumbai, Chennai, Bengaluru, Hyderabad, Kolkata, Nagpur, Raipur, Bhubaneswar, Ranchi, Bhopal, Lucknow, Kanpur, Noida, Jammu, Ahmedabad, Surat, Cochin, Jaipur, Chandigarh has been considered as “distribution cities” by CAIT for its survey. The Diwali festive season of our country played a vital role in rising the sales by more than 10.8% year-on-year. So, this clearly shows the good performance of the small businesses. But due to ban on sale of firecrackers in various cities like Delhi, Rajasthan, Bengal, Odisha etc firecrackers business and sellers incurred a loss of around Rs.10,000 crore this year.
Majority of purchases during the festive season included FMCG products, electronic and home appliances, furnitures, fixtures, kitchen essentials, decoration and gift items, gold jewellery and accessories, fashion wear (clothing and footwear) etc. Therefore the amount of sales that happened in the commercial market this year is a sign of good business prospects in future said the CIAT. It also mentioned that the generated turnover from sales was Rs. 72000 crores while for China the expected loss was around Rs.40000 crores.