The markets of Delhi have once again become vibrant ahead of Diwali. According to CAIT, this year's Diwali business is expected to exceed ₹7 lakh crore nationwide and ₹1 lakh crore in Delhi alone.
Diwali business estimated at Rs 1 lakh crore.
Festive shopping has now picked up pace in Delhi's markets, which had been sluggish for over a month due to protests and political activities. The markets are once again vibrant. The increasing flow of customers has brought smiles to merchants' faces. CAIT expects Diwali business revenue of over ₹7 lakh crore nationwide and over ₹1 lakh crore in Delhi alone.
For over a month, political protests, demonstrations, and frequent disruptions to public life have slowed business. This has directly impacted customer traffic and business activity at stores. However, as Diwali approaches, the picture is beginning to change. Shoppers have flocked to the capital's major markets, and shopping has picked up pace.
The return of vibrancy to the markets has also brought relief to businesses. Traders, long facing financial pressure, are now hopeful that sales during the festive season will help them recoup their losses.
Business was affected by political activities.
Praveen Khandelwal, National General Secretary of the Confederation of All India Traders (CAIT) and Member of Parliament from Chandni Chowk, said that for over a month, Delhi's traders have faced numerous economic challenges. Political protests and frequent disruptions to public life have reduced customer traffic in the markets. The impact is not limited to local shoppers.
Traders and customers from outside Delhi also saw fewer arrivals than before. Retail trade and other business activities were also affected. According to Khandelwal, the return of customers to the markets before Diwali is a sign of relief and enthusiasm for the business community.
Many festivals in the month of November will increase business.
November will be a crucial month for business this year. The continuous festival season will lead to continued shopping, which will boost the market economy. Speaking of festivals, this month's
- November 6: Dhanteras.
- November 7: Choti Diwali.
- 8 November: Diwali.
- November 9: Govardhan Puja.
- November 10: Bhai Dooj.
- 21 November: Tulsi marriage.
- November 24: Guru Nanak's birthday.
Additionally, Chhath Puja is also celebrated during this festive month. Dev Uthani Ekadashi on November 21st will also mark the beginning of the wedding season across the country. Following this, shopping activity is expected to continue in the markets due to Christmas and New Year celebrations.
Estimated turnover of Rs 7 lakh crore in the country
CAIT has already estimated nationwide business revenues of over ₹7 lakh crore during this year's Diwali festive season. According to the organization, Diwali shopping in Delhi alone could generate over ₹1 lakh crore. Khandelwal said that the return of customers to markets and enthusiasm for traditional shopping are the main reasons behind these estimates.
The wedding season, which begins immediately after the festivals, will also boost business. This is expected to particularly benefit Delhi's wholesalers and distribution sector. Demand has increased for everything from electronics to fashion and decorative items. This time, shopping isn't limited to traditional festive items. Customers are spending on modern products along with household necessities.
According to Khandelwal, the purchase of home appliances, electronics, fashion, lifestyle products, decorative items, and gifts is creating new business opportunities in the markets. Changing consumer preferences are likely to drive demand for various product categories. He added that Prime Minister Narendra Modi 's appeal to buy Indian products is also having an impact on the markets. He said that a large number of customers are prioritizing indigenous products. This is providing opportunities for small shopkeepers, local artisans, and entrepreneurs to strengthen their businesses.
The hopes of millions of people are linked to the festive business.
The festive shopping season isn't limited to the shopkeepers selling goods in the markets. It also impacts a vast business and employment ecosystem. From manufacturers to wholesalers and retailers, to transporters, logistics companies, the packaging industry, artisans, small entrepreneurs, and street vendors, all find work during this time.
Furthermore, the livelihoods of millions of daily wage earners also depend on festive business. Increased sales in markets boost production, transportation, and employment. This also impacts government revenues. This is why festive shopping is seen as integral to broader economic activity.
Traders hoping to recover past losses.
Praveen Khandelwal expressed confidence that traders across the country, including Delhi, will be fully prepared for the festive and wedding season this year. According to him, after the recent disruptions and economic losses, the markets are now experiencing renewed energy. Traders are now focused on sales in the coming days. The shopping spree that began with Diwali is expected to continue through weddings, Tulsi Vivah, Guru Nanak Jayanti, and then Christmas and New Year.
