Over Rs 50k crore business expected in 2024, says CAIT

Arthur Jones
2 Min Read

The Confederation of All India Traders (CAIT), a trade association, stated on Friday that merchants may expect to make over Rs 50,000 crore this year from the Holi holiday, an increase of about 50% from the previous year.

Since traders all over the nation are still refusing to buy Chinese products, business in Delhi alone is projected to be valued at almost Rs 5,000 crore. According to CAIT, “the country imports about ten thousand crore rupees worth of Holi-related items, which was negligible this year.”

“The only things being sold in large quantities are apparel, Gulal, water guns, balloons, sandalwood, puja items, and other stuff created in India. In addition, there is a great demand in the markets for confections, dry fruits, presents, fruits and flowers, clothing, fabrics for furniture, groceries, fast-moving consumer goods, consumer durables, and a variety of other goods, according to Praveen Khandelwal, Secretary General of CAIT.

The traders’ body reports that demand for balloons and water guns is larger than in past years. It is less for artificial colors, chemical-free colors, herbal colors, Abir, and Gulal.

Record-breaking sales for traders are predicted on Saturday and the following Sunday. Tank-shaped water cannons range in price from Rs 100 to Rs 400. Pressure guns are available in between Rs 100 and Rs 350. Additionally, ornate pipes are all the rage on the market, according to the CAIT.

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According to CAIT, Holi sales last year were almost Rs 25,000 crore, up roughly 25% from the previous year’s sales. Delhi alone saw sales of about Rs 1,500 crore.

Aside from Holi, the country’s current wedding season—which is predicted to extend until mid-July and involve about 42 lakh weddings—is anticipated to generate Rs 5.5 lakh crore in revenue from wedding-related goods and services.

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