There will be business worth millions of rupees on Diwali
The festival of Diwali is also a major economic event in India. People find it auspicious to shop on this occasion and therefore most of them plan to shop on this day for many months. Thanks to this, the market also becomes brighter and all the small and big businessmen get their benefits.
The Confederation of All India Traders estimates that there will be trade worth Rs 4.25 lakh crore across the country on Diwali this year. Good business is expected this year not only in big cities but also in Tier 1 and 2 cities. People are also expected to spend on different items.
These items can be sold more.
Tata Fintech’s Market Brew has done research on how much will be spent on each item. According to this, if there is a business of Rs 100 across the country during Diwali, then Indians can spend most of it on cars, electronics, etc. This expense can amount to 25 rupees.
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After this, Indians are expected to spend Rs 13 on food and groceries. This year the price of gold is very high, so you can spend up to Rs 9, i.e. 9 percent, on jewellery.
In the rest of Diwali, people spend Rs 12 on clothes or textiles, Rs 4 on dry fruits and sweets, Rs 3 on home decoration, Rs 6 on cosmetics, Rs 8 on mobiles and gadgets, Rs 3 on puja items, 3 rupees on kitchen items. You can spend Rs 2 on bakery products, Rs 8 on gift items and Rs 4 on furniture.
Business to increase by Rs 1 lakh crore
Market Brew estimates that this year’s Diwali business could be Rs 1 lakh crore more than last year. In the year 2023, there was a turnover of approximately Rs 3.5 lakh crore. The festival of Diwali is also celebrated with great pomp among businessmen, as that day they start their new accounting books.
