Raksha Bandhan 2024: Sales Expected To Rise Over ₹12,000 Crore, Says Confederation Of All India Traders

(MENAFN- Live Mint) New Delhi [India], August 18 (ANI): The Confederation of All India Traders (CAIT ) on Sunday anticipated a festive trade of over ₹12,000 crore across the country during the Rakhi festival.

The trade body said that the markets are witnessing a massive rush for Rakhi shopping, and people are very enthusiastic about the festival . It urged customers to celebrate the festival with Indian goods.

Observing the demands for indigenous Rakhis, the trade body stated that customers prefer indigenous Rakhis over Chinese Rakhis during this year's festive season.

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"For several years now, only indigenous Rakhis have been sold in the country, and this year too, there was neither demand for nor any presence of Chinese Rakhis in the market," the CAIT said in a note.

Praveen Khandelwal, CAIT's National General Secretary and Member of Parliament from Chandni Chowk stated that the business during the Rakhi festival will reach ₹12,000 crore, compared to last year's trade of approximately ₹10,000 crore.

In 2022, the business was around ₹7,000 crore, in 2021 it was ₹6,000 crore, in 2020 it was ₹5,000 crore, in 2019 it was ₹3,500 crore, and in 2018 it was ₹3,000 crore, as per Khandelwal.

Khandelwal and CAIT's National President, B.C. Bhartia, mentioned that this year, a special feature of the Rakhis is that special types of Rakhis have been made from famous products of various cities across the country.

According to the CAIT representatives, the customers are also demanding Khadi Rakhi made in Nagpur, Sanganeri Art Rakhi from Jaipur, Seed Rakhi from Pune, Woolen Rakhi from Satna in Madhya Pradesh , Bamboo Rakhi made from tribal items, Tea Leaf Rakhi from Assam, Jute Rakhi from Kolkata , Silk Rakhi from Mumbai, Date Rakhi from Kerala, Pearl Rakhi from Kanpur, Madhubani and Maithili Art Rakhi from Bihar, Soft Stone Rakhi from Pondicherry, Flower Rakhi from Bangalore, and more.

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