This year, India's traders expect to make over Rs 12,000 crore in sales during the Rakhi festival, said the Confederation of All India Traders (CAIT), an organisation of traders across the country. It stated that the markets are bustling with shoppers, and people are excited to celebrate. For years now, only locally made Rakhis have been sold in India. This year is no exception - there's no demand for Chinese-made Rakhis, and none are available in the market.
Praveen Khandelwal, Member of Parliament and National General Secretary, CAIT has stated that given the increased demand for Rakhis in recent days, it is expected that this year, the business during the Rakhi festival will reach Rs 12,000 crore, compared to last year's trade of approximately Rs 10,000 crore. In 2022, the business was around Rs 7,000 crore, in 2021 it was Rs 6,000 crore, in 2020 it was Rs 5,000 crore, in 2019 it was Rs 3,500 crore, and in 2018 it was Rs 3,000 crore.
Khandelwal and BC Bhartia, National President, CAIT mentioned that this year, a special feature of the Rakhis is that special types of Rakhis have been made from famous products from various cities across the country. These include Khadi Rakhi made in Nagpur, Sanganeri Art Rakhi from Jaipur, Seed Rakhi from Pune, Woolen Rakhi from Satna in Madhya Pradesh, Bamboo Rakhi made from tribal items, Jute Rakhi from Kolkata, Silk Rakhi from Mumbai are also selling well in the market.
Both trade leaders stated that starting from Raksha Bandhan on 19 August and extending through the festival period until November 15 on the day of Tulsi Vivah, there is an expectation of over Rs 4 lakh crore in festive sales in the country's markets through the sale of goods, predominantly of Indian origin.
“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,” they noted.
Traders in all states across the country will sell only Indian goods, as consumers are also now demanding Indian products. For the past four years, CAIT has been successfully running a campaign in the country, particularly during festivals, promoting the purchase of Indian products and the boycott of Chinese goods, Khandelwal and Bhartia added.
