Janmashtami celebrations across India sparked a significant business boom, with transactions exceeding Rs 25,000 crore, according to the Confederation of All India Traders (CAIT). This surge in consumer spending was driven by festive activities, making Janmashtami one of the most commercially vibrant times of the year. CAIT’s National General Secretary, Praveen Khandelwal, highlighted the substantial sales in various categories such as flowers, fruits, sweets, and devotional items, reflecting strong participation in the festival.
CAIT emphasized that festivals like Janmashtami play a crucial role in bolstering the Sanatan economy, which contributes to the nation’s overall economic growth. The organization’s National President, BC Bhartia, noted that the festival was celebrated with great enthusiasm, particularly in the North and West regions of India. This year’s Janmashtami, observed on August 26, saw devotees engaging in traditional practices and adorning their homes and temples with vibrant decorations, enhancing the festive spirit.
In addition to Janmashtami, CAIT forecasted a significant rise in festive trade for the upcoming Rakhi festival, predicting it could exceed Rs 12,000 crore. This projection builds on the steady increase in trade volumes observed over the past years, demonstrating the growing economic impact of India’s festivals.
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