You are here: Home » Current Affairs » News » National
Farmers stage protests at Delhi's Jantar Mantar against unemployment
Business Standard

CAIT upbeat about consumer spending in upcoming Diwali festive season

"The expected growth in business among cities will not be restricted to cities alone but traders in small towns and rural areas will also witness growth," it said.

Topics
CAIT | consumer spending | Diwali

IANS  |  New Delhi 



Karol bagh, Shopkeepers, shops, delhi, market, shopping, consumer, sales
Shopkeepers at the Karol Bagh market in New Delhi| Photo: PTI

The Confederation of All India Traders (CAIT) has asked traders to increase their stocks as people are going to buy more in the upcoming festival season.

Citing a YouGov report, has said that nearly 36 per cent of people living in the urban areas are likely to spend more during the season.

"The expected growth in business among cities will not be restricted to cities alone but traders in small towns and rural areas will also witness growth," it said.

President B.C.Bhartia and Secretary General Praveen Khandelwal said the report of YouGov was based on spending index, which shows that this year the spending intent stands for 94-45 in comparison to 90.71 in 2021 and 80.96 in 2020 which is also a parameter for recovery of the economy. In the last two years due to Covid pandemic, the consumers faced a financial crisis."

The prominent sector, the CAIT, sees growth include home appliances, Travel, Health and Fitness, Home Decor and gold. The expects that besides these sectors consumer electronics, mobiles, readymade garments, gift articles, FMCG sector, consumer durables, electrical fixtures and fittings, etc., will also see good business.

 

CAIT said the festival season was all set to begin from August 31 to September 9, which will be prominently celebrated in Maharashtra, Gujarat, Madhya Pradesh, Tamil Nadu, Karnataka, Andhra Pradesh, Goa, etc. whereas the festival of Navratri, Ramlila and Durga Puja will begin from September 26 to October 5, and Diwali on October 24.

--IANS

san/dpb

(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)


Subscribe to Business Standard Premium

Exclusive Stories, Curated Newsletters, 26 years of Archives, E-paper, and more!

Insightful news, sharp views, newsletters, e-paper, and more! Unlock incisive commentary only on Business Standard.

Download the Business Standard App for latest Business News and Market News .

First Published: Mon, August 22 2022. 17:59 IST

RECOMMENDED FOR YOU

.