1 week ago
Raksha Bandhan Trade Expected To Cross Rs 30,000 Crore
Raksha Bandhan is a festival when people buy rakhis and gifts for their siblings.
This year, traders expect shoppers across India to spend more than Rs 30,000 crore.
Rakhis themselves may bring in about Rs 25,000 crore.
Delhi could contribute nearly Rs 4,000 crore to those rakhi sales.
Many markets are crowded because only four days remain before the festival.
People are also buying sweets, clothes, electronics and decorations.
Dry fruits and puja items are other products adding to the expected sales.
The estimate was given by the Confederation of All India Traders.
The Confederation of All India Traders expects Raksha Bandhan-related business to exceed Rs 30,000 crore this year.
Rakhi sales alone are projected to contribute around Rs 25,000 crore.
Delhi is expected to account for nearly Rs 4,000 crore of the rakhi trade.
Markets across India, including major Delhi shopping areas, have reported heavy crowds before the festival.
Gifts, sweets, clothing, electronics, decorations, dry fruits and puja items are expected to add to the festival economy.
- Who
- The Confederation of All India Traders, represented by National Secretary General and Chandni Chowk MP Praveen Khandelwal.
- What
- Raksha Bandhan-related trade is expected to exceed Rs 30,000 crore, including around Rs 25,000 crore in rakhi sales.
- Where
- Across India, with Delhi expected to contribute nearly Rs 4,000 crore to the rakhi trade.
- When
- The estimate was issued on Tuesday, with four days remaining before Raksha Bandhan.
- Why
- Increased spending on rakhis, gifts, sweets, clothing, electronics, decorations, dry fruits, puja articles and other festive products is driving the estimate.
Key facts
- Expected total trade
- More than Rs 30,000 crore
- Projected rakhi trade
- Around Rs 25,000 crore
- Expected Delhi rakhi trade
- Nearly Rs 4,000 crore
- Retail timing
- Four days remained before Raksha Bandhan
- Crowded Delhi markets
- Chandni Chowk, Sadar Bazaar, Karol Bagh, Lajpat Nagar, Kamla Nagar, Rajouri Garden, Gandhi Nagar, Khari Baoli and Laxmi Nagar
- Other products
- Gifts, sweets, clothing, electronics, decorative items, dry fruits and puja articles
Sources
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