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New Delhi: India’s Diwali season is witnessing an unprecedented economic boom, with the Confederation of All India Traders (CTI) estimating festive transactions worth Rs 5 lakh crore across markets nationwide. From household items to automobiles, nearly every sector is seeing robust demand driven by the ongoing festive spirit.
According to CTI chairman Brijesh Goyal, the festive shopping wave, which began on September 22 during Navratri, will continue until Tulsi Vivah. “We are expecting business worth ₹5 lakh crore across the country during the Diwali period,” Goyal said, adding that the trend reflects renewed consumer confidence and strong liquidity in the market.
A report from a leading automobile industry body supports this upbeat outlook, revealing that retail vehicle sales rose 55 per cent during Navratri. Growth was recorded across all categories: two-wheelers (52 per cent), three-wheelers (115 per cent), commercial vehicles (48 per cent), passenger vehicles (70 per cent) and tractors (58 per cent), signalling high consumer spending.
CTI’s analysis, compiled after consultations with hotel, restaurant, mall, cinema, car dealer, salon, travel and market associations, predicts a nationwide surge across multiple sectors. It also estimates the exchange of over 5 crore gifts during the festive period, contributing significantly to retail turnover.
This year’s Diwali trade, CTI said, has a distinctly ‘vocal for local’ theme. Encouraged by GST reforms, shoppers are increasingly opting for Indian-made products, particularly items crafted by local artisans, such as earthen diyas, idols, wall hangings, handicrafts and traditional décor pieces.
Markets like Delhi’s Bhagirath Place are reporting brisk sales of Indian-made lighting and decorative products, reflecting a strong shift toward indigenous goods. Other sectors expected to benefit include FMCG, electronics, kitchenware, clothing, furniture, footwear and home décor. “From sweets and fashion to automobiles and consumer durables, every segment is buzzing with activity,” Goyal said, adding that GST reforms and consumer patriotism have together brightened this year’s festive economy.
