• About
  • Contact
Thursday, March 4, 2021
Next Big Brand
  • .
  • News
  • Internet
  • Startup
  • OTT
  • Industries
  • FMCG
  • Cryptocurrency
  • Retail
  • Tech
  • Case Study
  • Interview
No Result
View All Result
Next Big Brand
Home News

Sales Rose By 10.8% As Goods Worth ₹ 72K CR Sold During Diwali

Pritish raj by Pritish raj
November 16, 2020
in News
2 min read
0
Sales Rose By 10.8% As Goods Worth ₹ 72K CR Sold During Diwali
Share on FacebookShare on Twitter

The Traders’ Body Confederation of All India Traders (CAIT) announced that during the Diwali 2020 season, in the midst of the full boycott of Chinese products, traders across the country sold goods worth around 72,000 crores. Sales of the country’s Diwali festive season rose by more than 10.8 percent year-on-year, representing about 7 crore traders and 40,000 trade associations, the confederation, indicating good prospects for small businesses, said.

Based on reports collected from 20 different cities, including top metros such as Lucknow, Nagpur, Ahmedabad, Jammu, and Jaipur, the traders collected sales data. The group is the leading advocate around the nation for small traders and businesses.

In many states, such as Delhi, West Bengal, Sikkim, Odisha, Rajasthan, and some other states, small traders and firecracker sellers faced a loss of about 10,000 crore due to the ban on the selling of firecrackers. During the festive season, toys, FMCG goods, electrical appliances, utensils, confectionery pieces, gift items, home furnishings, candy, furniture, clothes, footwear, Diwali pooja items such as clay diyas, craft products were the main products recording sales.

Despite the upbeat survey, for the first time since independence in 1947, the economy, which grew at the slowest pace in over a decade during the year to the end of March, is likely to enter a technical recession. A contraction of 8.6 percent in the July-September quarter was projected by the Reserve Bank of India (RBI) on the back of a 23.9 percent contraction in the April-June quarter.

However, if the momentum gained in September and October is maintained, the country could return to growth in the current quarter ending December 2020, the RBI said.

CAIT also said that its boycott of the call for Chinese products had resulted in a trade loss for China worth around 40,000 crores. The robust sales that occurred during the Diwali festival season in commercial markets suggest good business prospects in the future and brought back some smiles on the faces of traders. Diwali sales also mean that in terms of sale-purchase of products, the citizens of India have beaten both Covid-19 and China,” the release said.

Meanwhile, in December, CAIT is likely to launch its BharatEMarket e-commerce platform to carry the community of its traders online. The platform will be launched in collaboration with the Department for Industry Promotion and Internal Trade (DPIIT) and promoted by Startup India and Invest India of Prime Minister Narendra Modi along with All India Consumer Goods Distributors Federation and Avana Capital, a small business lender.

Previous Post

Reliance Retail Acquires Majority Stake In Urban Ladder For ₹182 Cr

Next Post

Indian Actress Are Investing Big In Indian Startup Ecosystem

Pritish raj

Pritish raj

Pritish Raj is a content writer at Next Big Brand. Hailing from the diversified state of Bihar, he is an engineer by education who chooses the way of poetry, photography, and writing to kick off his career. Highly enthusiastic about brands and startups, he aims to be a travel content creator.

Related Posts

Noise ranked as India’s No.1 Wearable Watch Brand in 2020 by IDC
News

Noise ranked as India’s No.1 Wearable Watch Brand in 2020 by IDC

March 4, 2021
Midhula Devabhaktuni: Inspiring Women with Her Successful Entrepreneur Journey
News

Midhula Devabhaktuni: Inspiring Women with Her Successful Entrepreneur Journey

March 4, 2021
Deepinder Goyal, Asish Mohapatra, Sarbvir Singh, and Manish Vij Invest in Bijnis
News

Deepinder Goyal, Asish Mohapatra, Sarbvir Singh, and Manish Vij Invest in Bijnis

March 4, 2021
Netflix Launches Tiktok Inspired Short Video Platform “Fast Laughs”
Netflix

Netflix Launches Tiktok Inspired Short Video Platform “Fast Laughs”

March 4, 2021
Truecaller Launches Personal Safety App, Guardians
News

Truecaller Launches Personal Safety App, Guardians

March 4, 2021
MX TakaTak is the Most Downloaded App in India in February
News

MX TakaTak is the Most Downloaded App in India in February

March 3, 2021
Next Post
Indian Actress Are Investing Big In Indian Startup Ecosystem

Indian Actress Are Investing Big In Indian Startup Ecosystem

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

This site uses Akismet to reduce spam. Learn how your comment data is processed.

RECOMMENDED NEWS

Pocket Aces- Story Of Three Aces FilterCopy, Dice Media & Gobble

Pocket Aces- Story Of Three Aces FilterCopy, Dice Media & Gobble

2 months ago
TCS Profitable Employees Shares- Next Big Brand

TCS Will Not Lay Off Employees & Freezes Salary Hike Amid Pandemic

11 months ago
indias best places to work for

India’s top 10 Places to Work At – 2019

2 years ago
BSNL Employees VRS

Government To Save ₹ 7,500 Crore From VRS Of 80k BSNL Employees

1 year ago

FOLLOW US

  • 28.6k Fans

BROWSE BY TOPICS

2018 League amazon Amazon Great Indian Sale Amazon Prime Apple Apple Inc Automobile Industry Balinese Culture Bali United Budget Travel Champions League Chopper Bike Doctor Terawan facebook Facebook app future group hotstar Indian OTT Platforms Indian Smartphone Market Istana Negara Jio Market Stories Maruti Suzuki National Exam Netflix Netflix India Netflix Originals oppo OTT OYO Realme Reliance Industries Limited Reliance Jio RIL Samsung Tata Motors Tiktok TikTok India TikTok Videos Visit Bali Vivo whatsapp Xiaomi Xiaomi India YouTube
Next Big Brand

We Talk About Brands

Follow us on social media:

Recent News

  • Noise ranked as India’s No.1 Wearable Watch Brand in 2020 by IDC
  • Midhula Devabhaktuni: Inspiring Women with Her Successful Entrepreneur Journey
  • Deepinder Goyal, Asish Mohapatra, Sarbvir Singh, and Manish Vij Invest in Bijnis

Instagram

Follow Me!

Latest News

Noise ranked as India’s No.1 Wearable Watch Brand in 2020 by IDC

Noise ranked as India’s No.1 Wearable Watch Brand in 2020 by IDC

March 4, 2021
Midhula Devabhaktuni: Inspiring Women with Her Successful Entrepreneur Journey

Midhula Devabhaktuni: Inspiring Women with Her Successful Entrepreneur Journey

March 4, 2021
  • About Us
  • Privacy Policy
  • Terms and Conditions
  • Disclaimer
  • DMCA Policy
  • Our Team
  • Contact Us
  • Sitemap

© 2019 NBB. All Rights Reserved.

No Result
View All Result
  • .
  • News
  • Internet
  • Startup
  • OTT
  • Industries
  • FMCG
  • Cryptocurrency
  • Retail
  • Tech
  • Case Study
  • Interview

© 2019 NBB. All Rights Reserved.

Login to your account below

Forgotten Password?

Fill the forms bellow to register

All fields are required. Log In

Retrieve your password

Please enter your username or email address to reset your password.

Log In
This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy and Cookie Policy.