For traders in Delhi and across the nation, the Diwali holiday is offering huge business chances this time around. It is anticipated that about Rs 1 lakh crore in liquidity will enter the market through holiday purchases.
The business community is expected to benefit from this sizable inflow of capital, according to a statement from the traders’ group Chamber of Trade and Industry (CTI). After two years, there won’t be any Covid limitations on celebrating Diwali, which will encourage people to shop for Diwali in commercial markets throughout the nation.
The holiday shopping began on September 26 in celebration of Navratri and will last through November 5, which is Tulsi Vivah day. According to estimates, the business associated with the Diwali festival is anticipated to reach Rs 1 lakh crore in Delhi, according to CTI Chairman Brijesh Goyal.
The overall retail sales of cars rose by a staggering 57% over the Navratri period, according to CTI, a new research from FADA, the company’s ruling body. Two-wheelers, three-wheelers, commercial vehicles, personal vehicles, and tractors have all showed extremely high growth rates of 52%, 115%, 48%, 70%, and 58%, respectively, among all kinds of vehicles.
These numbers show the expected strong business during the Diwali celebrations. During the Diwali holiday time, it is believed that 5 crore gifts of various little to expensive items are exchanged.
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