During the festive and wedding season, business worth over 7 lakh crore rupees is estimated in the country. Automobiles, real estate, jewelry, electronics, traditional decorations, apparel, and dry fruits are expected to be the top-selling items. In UP alone, firecracker sales are likely to exceed 10,000 crore rupees.
New Delhi: The Bharatiya Udyog Vyapar Mandal (BUVM) has estimated a business turnover of 7.58 lakh crore rupees in the country for this year's festive and upcoming wedding season. Markets have seen a surge, especially in small and medium-sized cities, following the Sharadiya Navratri which began on September 22. Sales of automobiles, real estate, groceries, jewelry, electronics, and traditional decorations are expected to be the highest. Firecracker sales in UP alone could reach 10,000 crore rupees, with demand remaining b in both rural and urban markets.
Rapid Sales Growth in Small Towns and Rural Markets
Babu Lal Gupta stated that positive trends are being observed across all sectors including vehicles, real estate, essential groceries, jewelry, electronics, traditional decorations, apparel, and dry fruits. Demand for indigenous products remains b, particularly in tier-2 and tier-3 smaller cities. Earthen lamps, idols, and handmade traditional decorative items are also gaining popularity due to seasonal customs.
Sales momentum is also robust in rural markets. An increase in purchasing is being observed in rural areas due to post-harvest income and wedding-related expenses. This is benefiting local traders and maintaining enthusiasm in the market.
Automobiles and Real Estate Expected to See Highest Sales
According to BUVM's report, the automobile sector is estimated to have the highest sales this time. Business worth approximately 1.30 lakh crore rupees is expected in this sector, including cars, bikes, and e-rickshaws. The real estate and construction materials sector ranks second with 1.20 lakh crore rupees.
Sales of essential goods are also showing strength, estimated at around one lakh crore rupees. Furthermore, demand for electronics, jewelry, and apparel is continuously increasing. Shopkeepers in Mumbai, Chennai, and small towns across North India have observed a rise in demand for fireworks and festive decorative items.
Surge in Firecracker Sales
Firecracker sales are also making a significant contribution to the overall business during the festive season. According to Babu Lal Gupta, sales in this sector alone are expected to exceed 10,000 crore rupees in Uttar Pradesh. Demand for fireworks is increasing due to festivals like Diwali and Navratri.
Firecracker sales are encouraging even in small towns and rural areas. This is benefiting traders and simultaneously creating more employment opportunities.
Start of the Festive Season and Survey Report
This year, the festive season commenced on September 22 with Sharadiya Navratri. Market momentum is expected to further accelerate during Diwali and the subsequent wedding season. BUVM's special committee collected data from major trade centers across the country.
The committee collected data from prominent cities including Delhi, Mumbai, Chennai, Ahmedabad, Bengaluru, Hyderabad, Jaipur, Chandigarh, Kanpur, Patna, Indore, Raipur, Ranchi, Haridwar, Tripura, and Cuttack. Information from local traders was incorporated to formulate national estimates.
Customer Trends and Market Enthusiasm
Babu Lal Gupta stated that this year, consumer preference is particularly towards local and indigenous products. Purchasing power has increased due to GST reductions and festive bonuses.
Positive trends are observed in various sectors. Demand for electronics, jewelry, apparel, and home decoration items has increased. Markets in rural areas and small towns are also enthusiastic at this time.
Estimated Business for Festive and Wedding Seasons
According to BUVM, the total business during this festive and wedding season could reach approximately 7.58 lakh crore rupees. Increasing demand in sectors such as automobiles, real estate, essential goods, electronics, jewelry, and apparel confirms this estimate.
Sales of firecrackers and decorative items have also made a significant contribution to business. Shopkeepers in Uttar Pradesh, Maharashtra, Delhi, Tamil Nadu, and other states have experienced encouraging purchases.
Thus, the festive and wedding season has infused new energy into trade and consumer activities in the country, and the potential business of approximately 7.58 lakh crore rupees reflects this enthusiasm.
