Diwali sales likely to surpass Rs 5 lakh crore as GST rate cuts spur demand, say traders

New Delhi, Oct 19: The Confederation of All India Traders (CAIT) expects festive sales to exceed Rs 5 lakh crore during this year’s Diwali shopping boom as GST rate cuts have led to a sharp increase in demand.
CAIT Secretary General Praveen Khandelwal said that, inspired by Prime Minister Narendra Modi’s call for “Swadeshi” (local products), the organisation has resolved to celebrate this year as “Swadeshi Indian Diwali”.
Under this initiative, the CAIT launched a nationwide campaign titled “Bhartiya Samaan — Hamara Swabhiman” (Indian Goods — Our Pride), which it said has received tremendous response across the country.
Traders nationwide have promoted Indian-made goods, while consumers have shown remarkable pride and confidence in the “Make in India” vision, he added.
Khandelwal said that major GST rate reductions introduced by PM Narendra Modi’s government have given new strength to domestic trade and played a crucial role in promoting Swadeshi products.
As a result, foreign – particularly Chinese – goods have completely vanished from Indian markets this Diwali. CAIT’s “Boycott Chinese Goods” campaign, initiated in 2021, has now transformed into a national movement, with both traders and consumers united in rejecting Chinese products, he added.
Markets across the country are witnessing massive crowds this festive season. The traditional “touch and feel” shopping experience has returned, delivering a major setback to online sales. Traders are jubilant, consumers are delighted — and this Diwali has truly set a new benchmark in India’s trade history, he said.
Key product categories witnessing a massive surge in sales include sweets, dry fruits, fruits, food grains, readymade garments, textiles, consumer durables, electronics, mobiles, televisions, refrigerators, washing machines, air conditioners, automobiles, two-wheelers, jewellery, gold, silver, coins, gift items, decorative materials, puja items, earthen diyas, lighting products, and furnishing fabrics, according to a CAIT statement.
Additionally, several service sectors have also greatly benefited from the Diwali season — including transport, packaging, logistics, catering, event management, beauty salons, travel, hospitality, and entertainment industries, the statement said.
Khandelwal remarked that this festival is not only a celebration of lights but also a symbol of the resurgence of Swadeshi trade. Under the leadership of Prime Minister Modi, India’s trading community is moving firmly ahead on the path of Atmanirbhar Bharat (Self-Reliant India).
Meanwhile, amidst confusion over the date of Diwali celebrations, and following scriptural guidance and the advice of scholars, the Confederation of All India Traders (CAIT) has announced that Diwali will be celebrated with grandeur across the country on October 20.
Traders will perform the Ganesh and Goddess Mahalakshmi puja at their business establishments and homes. In some regions, Diwali may also be celebrated on October 21, depending on local conditions; however, major religious cities such as Ayodhya, Varanasi, Ujjain, and Mathura will celebrate Deepotsav on October 20 itself, they added. (IANS)