Business

Rakhi Festive Sales Expected to Surge At ₹12,000 Crore, Predicts CAIT

This festive season of Raksha Bandhan, the Confederation of All India Traders (CAIT) has forecasted a substantial festive trade exceeding ₹12,000 crore across the country.

CAIT’s National General Secretary and MP from Chandni Chowk Praveen Khandelwal, he projected that Rakhi festival business will reach ₹12,000 crore, up from approximately ₹10,000 crore last year.

As per Khandelwal, the trade was around ₹7,000 crore in 2022, ₹6,000 crore in 2021, ₹5,000 crore in 2020, ₹3,500 crore in 2019, and ₹3,000 crore in 2018 respectively.

Further, National president B.C. Bhartia also highlighted, that this year, Rakhis will be crafted from renowned products of various cities.

Customers are also demanding specialty Rakhis such as Khadi Rakhi from Nagpur, Sanganeri Art Rakhi from Jaipur, Seed Rakhi from Pune, Woolen Rakhi from Satna, Bamboo Rakhi from tribal items, Tea Leaf Rakhi from Assam, Jute Rakhi from Kolkata, Silk Rakhi from Mumbai, Date Rakhi from Kerala, Pearl Rakhi from Kanpur, Madhubani & Maithili Art Rakhi from Bihar, Soft Stone Rakhi from Pondicherry, Flower Rakhi from Bangalore, and more.

Moreover, there is a huge demand for those Rakhis, which symbolize national pride, like Tricolor Rakhi, Vasudhaiva Kutumbakam Rakhi, and Bharat Mata Rakhi. Additionally, designer Rakhis and silver Rakhis are also seeing strong sales.

The CAIT also anticipates festive sales of over ₹4 lakh crore due to the extended festival season, which spans from August 19 to November 15, culminating on Tulsi Vivah.

‘This year’s festive series will begin with Raksha Bandhan and continue through Janmashtami, the 10-day Ganesh Utsav, Navratri, Durga Puja, Dussehra, Karva Chauth, Dhanteras, Diwali, Govardhan Puja, Bhai Dooj, Chhath Puja, and other festivals, culminating with Tulsi Vivah. During this festive period, the business community across the country is fully prepared to meet consumer demands, and traders have stocked up adequately on all products.’ said CAIT

Also Read: India’s July Exports Increase By 2.8% To USD 62.4 Billion; Trade Deficit Grows To USD 9.6 Billion

Popularity Of Made-In-China Rakhis

Meanwhile, while talking about anticipated increased festive sales, the organization noted a strong preference for indigenous Rakhis over Chinese alternatives this year.

‘For several years now, only indigenous Rakhis have been sold in the country, and this year too, there was neither demand for nor any presence of Chinese Rakhis in the market.’ said CAIT

Must Read: Indian Origin Starbucks CEO Laxman Narasimhan Replaced With Brian Niccol

The Trade body also encouraged customers to celebrate with Indian-made goods.

(With Inputs From ANI) 

Dikshaa Puri

Recent Posts

Who Is Oscar Jenkins? Australian Man Captured In Ukraine By Russian Soldiers

Australian officials are investigating a video showing Melbourne man Oscar Jenkins, who appears to have…

35 mins ago

Kichcha Sudeep Using English Title For New Movie Sparks Backlash, Actor Gets Furious While Defending The Move

Apart from Max, Kichcha Sudeep is working on two yet-to-be-titled projects, as well as Billa…

37 mins ago

Pakistan Rewrites History After 1991, 3-0 Whitewash Against South Africa

Pakistan’s victory in the third ODI was powered by a brilliant century from Saim Ayub,…

42 mins ago

Holiday Survival Guide: Here’s How To Enjoy The Holidays Without The Need For Perfection

Ditch perfectionism this holiday season and focus on what truly matters—love, connection, and joy. Here's…

47 mins ago

Why Is Bashar Al-Assad’s Wife Asma Al-Assad Filing For Divorce

As the Assad regime crumbles, a new chapter unfolds for Asma Al-Assad, who seeks divorce…

55 mins ago

Has Jeff Bezos Cancelled His $600 Million Lavish Wedding Or Was It Never Happening?

Bezos allegedly arrived in Aspen on December 21 via private jet with his entourage. Planners…

1 hour ago