Janmashtami festival generates over Rs.25,000 crore in business, reflecting robust consumer spending: CAIT

Janmashtami festivities drive business across India, sales exceed Rs.25,000 cr: CAIT

The Janmashtami festival this year has resulted in a remarkable business turnover exceeding Rs.25,000 crore, according to the Confederation of All India Traders (CAIT). This impressive figure highlights the robust consumer spending during the festival and underscores the vitality of the growing economy during festive periods.

Praveen Khandelwal, CAIT’s General Secretary, noted significant sales increases across various categories, including flowers, fruits, sweets, deity costumes, decorative items, fasting sweets, milk, curd, butter, and dry fruits. These items saw heightened demand as celebrants prepared for the festivities.

BC Bhartia, CAIT’s National President, emphasized the enthusiastic celebrations, particularly in North and West India. The festival was marked by beautifully decorated temples, vibrant crowds, and special attractions such as digital tableaux and selfie points featuring Lord Krishna.

Temples were decorated attractively, and there were large crowds of people visiting them. Bhartia highlighted that the special attractions of the Janmashtami festival included digital tableaux and selfie points. In cities, there were numerous bhajans, religious dances, and discourses by saints and sages. Various social organizations also held large-scale Janmashtami celebrations.

Celebrated on August 26 this year, Krishna Janmashtami saw devotees engaging in traditional practices such as fasting and decorating temples and homes with flowers, diyas, and lights, contributing to the festive spirit and economic activity.

CAIT expects festive sales of over Rs.4 lakh crore due to the extended period of the festival season this year which began with Raksha Bandhan on August 19 and will extend to November 15 on the day of Tulsi Vivah.

The business body estimated the festive trade during Raksha Bandhan at over Rs.12,000 crore across the country. In 2022, the business during the Rakhi festival stood at around Rs.7,000 crore; in 2021 it was Rs.6,000 crore; in 2020 it was Rs.5,000 crore; in 2019 it was Rs.3,500 crore, and in 2018 it was Rs.3,000 crore, according to Khandelwal.

“This year’s festive series begins with Raksha Bandhan and continues through Janmashtami, the 10-day Ganesh Utsav, Navratri, Durga Puja, Dussehra, Karva Chauth, Dhanteras, Diwali, Govardhan Puja, Bhai Dooj, Chhath Puja, and other festivals, culminating with Tulsi Vivah. During this festive period, the business community across the country is fully prepared to meet consumer demands, and traders have stocked up adequately on all products,” a CAIT representative said.

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