India Projects 5 Lakh Crore Turnover During Diwali Season

The Chamber of Trade and Industry projects that nationwide business turnover during the Diwali festive season will reach approximately 5 lakh crore. In Delhi, sales are expected to hit 80,000 crore, marking a recovery for traders who suffered estimated losses of 14,000 crore due to protests and rallies between October 1 and November 1. Chairman Brijesh Goyal noted a strong consumer preference for indigenous Indian products over imports, while national retail automobile sales grew by 55%.

Regional activity in Indore, Madhya Pradesh, mirrored this trend, with markets generating an estimated 1,070 crore during Dhanteras shopping on November 6-7. The automobile sector led Indore's turnover with 400 crore from the delivery of 12,000 vehicles. Jewellery sales reached 250 crore, spurred by a drop in gold prices from 1.95L to 1.45L per tola.

Anil Raka, President of the Indore Sona-Chandi Jawaharat Vyapari Association, reported that buyers thronged to shops following the price decline, noting that activity peaked after 3-4 pm. Other significant Indore contributions included 300 crore in property bookings and 100 crore in electronics. Traders also observed a shift in the utensil market toward traditional metals like copper, bronze, and brass over stainless steel.