Economy Growing With The Pace of Festivals

 

Economy Growing With The Pace of Festivals

This Diwali, India's economy is preparing to take a big leap. This is being said because a positive atmosphere is visible in the Indian market. There is a steady increase in buying and selling in the market. The festival of Diwali gives business opportunities to everyone from roadside hawkers to big glass showrooms.

 

The festival of Diwali has become a milestone in the Indian economy. All sectors of the economy have started preparing their plans keeping Diwali in mind. If the market is compared according to the time before and after the Corona epidemic, then in the festive season of the year 2023, an increase of 60% is going to be seen as compared to the year 2019.

 

In the festive season of the year 2019, the market was lit up with a turnover of Rs 2.5 lakh crore. In the year 2023, a turnover of about Rs 4 lakh crore is being estimated with an increase of 60%. And this is also seen happening. The percentage of women among the people who shop during the festive season is also high. About 1/3 of the purchases in the market are made by women consumers.

 

In the year 2023, there is going to be an unprecedented increase in the purchases starting from the time of Diwali. This time there is a possibility of a business of about 3 lakh crores in the festive season of Diwali. Which will work to take India's economy to a new height.

 

This time the demand for personal and household useful electronic goods is at its peak in the Diwali festive season. In which there is a high demand for devices like mobile phones to washing machines, refrigerators, LED TVs. Along with this, the market of non-traditional household goods is also going to be fast. The automobile sector is also ready to move forward with a huge jump this Diwali. This time there is a possibility of increase in the number of new marriages.

 

The way wedding related purchases are continuously happening in the market. In view of that, jewelry is being purchased on a large scale from Diwali itself. Along with marriages, the clothing market is also booming. And the markets related to fashion and lifestyle are getting illuminated with Diwali.

 

While the festivals of India promote the growth of big shopkeepers and businesses, these festivals also provide employment as well as respect to small businessmen. During festivals, the trade of many items used in worship, such as camphor, incense, havan samagri, etc. also takes place on a large scale.

 

A turnover of about 2.5 lakh crores is done in a year from the items used during festivals. This trade is done from small roadside shopkeepers to big wholesale shops. This sector of the economy is completely connected to festivals and religious activities. During festivals, all small and big businessmen get direct benefit from it.

 

With time, the festival tradition of India is becoming even stronger. And a positive change towards festivals is being seen among the common people. Due to this change, the Indian market is growing rapidly on the peak of progress. Indian festivals are going to play a big role in making the world's third economy.