Over 5 crore items are purchased for gifting during annual Diwali season: CAIT | The Financial Express

Over 5 crore items are purchased for gifting during annual Diwali season: CAIT

Ease of Doing Business for MSMEs: “CAIT through its more than 40,000 affiliate associations will connect with craftsman, potters, karigars, startups, small industries and others to design and produce a variety of quality products at affordable prices for everyone to buy,” said CAIT.

Over 5 crore items are purchased for gifting during annual Diwali season: CAIT
Meanwhile, CAIT has asked traders to stock up on goods ahead of the upcoming festive season.

Ease of Doing Business for MSMEs: Estimatedly more than 5 crore items including a range of articles are purchased during every Diwali festival for gifting purposes, said traders’ body Confederation of All India Traders (CAIT) on Sunday, urging people to buy souvenirs inscribed with ‘Azadi Ka Amrit Mahotsav’, celebrating 75 years of independence. “CAIT through its more than 40,000 affiliate associations will connect with craftsman, potters, karigars, startups, small industries and others to design and produce a variety of quality products at affordable prices for everyone to buy,” the traders’ body said. 

“These products may include pen stands, pens, card holders, mobile covers, tie-pin, hand-cliffs, mobile chargers, tea and coffee mugs, contemporary paintings, flower pots, flower vases, etc,” CAIT added in a statement. The National President BC Bhartia and Secretary General Praveen Khandelwal said the association is connecting with national bodies of transporters, consumers, small industries, women entrepreneurs, state-level chambers, district level and city level associations, etc., for awareness of its campaign across all sectors.

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The move is part of the year-long campaign till August 15, 2023, to promote souvenirs celebrating the independence by the Ministry of Culture for which the latter is engaged in an outreach program with national associations of trade and industry and of other verticals of the economy, said Bhartia and Khandelwal. 

Meanwhile, CAIT has asked traders to stock up on goods ahead of the upcoming festive season. Citing a report of an internet-based market research company YouGov, CAIT in August said nearly 36 per cent of urban shoppers were ready to spend more this season from previous years. Home appliances, travel, health and fitness, home decor and gold are among the key sectors to expect increased sales this festive season. The association noted that around Rs 2.5 crore sales are expected this Diwali season amid the campaign to boycott Chinese goods that are likely to see business loss worth approximately Rs 75,000 crore. 

Also read: Exclusive: No further extension of Udyog Aadhaar license validity for MSMEs by govt

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