Amid Raksha Bandhan 2023, the Confederation of All India Traders (CAIT), a national-level trade organisation on Monday has estimated that India will register a revenue of over Rs 10,000 crore.
BC Bhartia, National President and Praveen Khandelwal, Secretary-General, CAIT said, “This year Rakhi business is expected to be around Rs 10,000 crore whereas last year this business was around Rs 7,000 crore. In the year 2021, it was worth Rs 6,000 crore whereas in the year 2020, it was Rs 5,000 crore while in 2019 it was Rs 3,500 crore.”
Both trade leaders added that this year a special feature of rakhis is that unique types of rakhis have also been made from famous products of different cities of the country, including Khadi Rakhi made in Nagpur, Sanganeri Kala Rakhi in Jaipur, Rakhi in Pune.
“The distinguished rakhis also include Tiranga rakhi showing pride of the country, Chandrayaan rakhi, G-20 slogan Vasudhaiva Kutumbakam rakhi, Bharat Mata rakhi etc,” both leaders added.
Bhartia and Khandelwal added that it is expected that during the festive period starting from 30 August till 24 November, the day of Tulsi Vivah, about Rs 3 lakh crore will be infused in the retail trade by way of the sale of goods.
They also mentioned that the trading community of the country is fully geared up to meet the demands of the consumers during the period of the festive season and all the products have been stocked by the traders in sufficient quantity.
“Traders in all the states of the country will sell only Indian goods as the consumers are also demanding only Indian goods,” according to the trade leaders.
Meanwhile, a nationwide campaign to boycott Chinese goods will be launched by the Confederation of All India Traders from 1 September which will continue till December 31.