New Delhi, Oct 18: The recent GST rate cuts have sparked a nationwide shopping surge, making Navratri sales one of the largest consumption waves in years in automobiles, consumer electronics and e-commerce, according to industry estimates.
Analysts projected festive and wedding season turnover to exceed ₹7 lakh crore. Digital payments jumped tenfold overnight, from ₹1.18 lakh crore on September 21 to ₹11.31 lakh crore on September 22, as shoppers rushed to take advantage of GST savings, according to industry data.
Delhi’s festive sales are estimated at ₹75,000 crore, while Ahmedabad experienced nearly a 10 per cent increase in cotton fabric demand following GST reductions on garments priced under ₹2,500.
The automotive and consumer durable sectors received a huge boost from the GST reforms.
Federation of Automobile Dealers Associations (FADA) reported a 34 per cent year-on-year increase in Navratri auto sales, marking the highest growth to date.
Maruti Suzuki India doubled its sales compared to last year, delivering 165,000 cars in eight days, including a record 30,000 vehicles on Ashtami, while two-wheeler manufacturers saw showroom footfall double.
Consumer durable sales increased by 40-45 per cent, led by premium product categories, the industry estimates said.
All leading consumer electronics brands and dealers saw strong double-digit growth.
E-commerce platforms also emerged as one of the biggest beneficiaries of the festive GST cut, as Amazon India reported a 29 per cent increase in same- and next-day deliveries in metropolitan areas and a 37 per cent rise in two-day deliveries to tier-2 and tier-3 cities.
Market sentiment reflected consumer momentum as the Nifty 50 reached a 52-week high of 25,709, supported by strong foreign inflows, a firmer rupee, and festive demand.
Lower taxes on essential and consumer goods have eased household budgets and energised local supply chains, boosting Made-in-India products across markets, the report said. (IANS)
