Diwali sales “record”: China lost Rs 40,000 cr

Traders recorded sales of around Rs 72,000 crore this Diwali across major markets in the country, said the Conferderation of All India Traders.

CAIT said in a statement, “As per reports gathered from 20 different cities which are also considered to be the leading distribution centres of India, it is expected that Diwali festive sales generated a turnover of about Rs 72,000 crores and gave China the expected loss of Rs 40,000 crore.”

For the purpose of surveys, CAIT considered twenty cities including Delhi, Mumbai, Chennai, Bengaluru, Hyderabad, Kolkata, Nagpur, Raipur, Bhubaneswar, Ranchi, Bhopal, Lucknow, Kanpur, Noida, Jammu, Ahmadabad, Surat, Cochin, Jaipur, Chandigarh as “distribution cities.”

The CAIT said, “The robust sales that happened in commercial markets during Diwali festive season indicates good business prospects in future and brought back some smile on the faces of traders.”