After Diwali boom, traders eye Rs 5 lakh crore business in wedding season

New Delhi, Oct 22 (IANS) After achieving all-time high Diwali sales, traders are now bullish over the forthcoming wedding season business, which could cross Rs 5 lakh crore, giving a significant boost to the country’s economy, according to the Confederation of All India Traders (CAIT).

Traders’ focus has now shifted to the wedding season, which will begin after Dev Uthani Ekadashi on November 1 and continue till December 14. According to CAIT estimates, millions of weddings are expected to take place across India during this period, bringing Diwali-like vibrancy back to the markets.

CAIT Secretary General Praveen Khandelwal said: "After the bumper Diwali business, traders are now fully gearing up for the wedding season. New sales records are expected in the gold and silver, jewellery, apparel, gifts, decoration, furniture, catering, hotel, beauty, and electronics sectors."

Following the Diwali festivities, Govardhan Puja was celebrated with great fervour across the country. Govardhan Puja symbolises protection from natural calamities and the spirit of environmental conservation. This year, it was celebrated with great enthusiasm across the country, leading to a significant rise in sales of worship plates, earthen lamps, pure ghee, milk-curd, sandalwood, flowers and garlands, sweets, decorative pots, ritual clothing, and steel utensils. The Annakut festival, expressing gratitude to Goddess Annapurna, was also observed joyfully nationwide, the traders' body said.

Preparations for Bhai Dooj, to be celebrated on October 23, have once again brought vibrancy to the markets. There has been a noticeable increase in the demand for sweets, dry fruits, tika materials, gift boxes, garments, watches, mobile accessories, and gifting items, according to a CAIT statement.

Simultaneously, preparations for Chhath Puja are underway across the nation. The festival will be celebrated on October 27–28, and the sale of fruits, sugarcane, coconuts, thekua (traditional sweets), bamboo baskets and trays, saris, brass and bronze utensils, earthen lamps, and other puja materials has already picked up strongly, the statement said.

The festive series will conclude with Tulsi Vivah on November 2, when the ceremonial marriage of Goddess Tulsi and Lord Shaligram will be performed according to traditional rituals. The demand for tulsi plants, earthen lamps, ritual garments, flower garlands, ghee, rice, coconuts, pots, and traditional sarees and suits has seen a sharp increase ahead of the festival, the CAIT statement added.

"Even after the record-breaking sales during Diwali, markets across the country continue to witness heavy footfall. This clearly reflects the growing enthusiasm of people toward Indian festivals and their increasing faith in domestic products under Prime Minister Narendra Modi’s vision of ‘Vocal for Local’," Khandelwal said.

He added that during Diwali and the subsequent major festivals, sales of worship items, sweets, apparel, gift products, utensils, and electronic goods have recorded a 25–30 per cent rise.

--IANS

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