Karva Chauth Brings Windfall for Traders; Surge in Indigenous Product Sales

Markets and malls in the nation saw a frenzy of buyers on Friday, as Karva Chauth was observed with much pomp and show. Individuals, particularly women, splurged on clothing, sweets, gift items, decorative materials, and puja materials during the two-day period. As a result, there was a 27 percent rise in business on Karva Chauth this year compared to last year. But the record-breaking price hike also affected the buying and selling of gold ornaments. This year, there was a greater call for light jewelry.

Praveen Khandelwal, National General Secretary of the Confederation of All India Traders (CAIT), said, "This Karva Chauth was special for both people and businesses in many ways. Income tax exemptions, lower interest rates, and reduced GST rates, combined with reduced prices, led to a surge in shopping. This resulted in nationwide sales of approximately ₹28,000 crore, a 27.27 percent increase over the ₹22,000 crore turnover recorded last Karva Chauth. In 2023, the total sales were ₹15,000 crore."

Khandelwal said, "The reduction in GST rates before Karva Chauth this year provided additional relief to consumers. Meanwhile, Prime Minister Narendra Modi's appeal to sell and buy indigenous products led to a surge in sales of traditional products. This provided employment to artisans and artists, and millions of small traders and local shopkeepers saw ample business over the two days."

Sales of traditional items such as sarees, lehengas, puja thali, sieves, clay pots, sweets, gift items, jewelry, and cosmetics saw a surge. Beauty parlors, mehndi artists, and salons also saw long queues throughout the day. This provided significant employment to small artisans and artists across the country, while a large number of mass Karva Chauth pujas were also organized across the country.

According to CAIT, Delhi witnessed a turnover of ₹8,000 crore on Karva Chauth. Major markets including Chandni Chowk, Sadar Bazaar, Sarojini Nagar, Lajpat Nagar, Karol Bagh, Connaught Place, and Khan Market were bustling with shoppers for the past two days.

Khandelwal said that the reduction in GST rates before Karva Chauth provided additional relief to consumers. Prime Minister Narendra Modi's appeal to sell and buy indigenous products also led to a surge in sales of traditional products. This provided employment to artisans and artists, and millions of small traders and local shopkeepers saw a boom in business over the two days.

Sanyam Mehra, Chairman of All India Gems and Jewellers, said that despite record prices, there was good activity in the bullion markets across the country. Many of the people who enquired bought gold fearing that the prices might rise further. Mehra said that there was good purchase of gold and silver jewellery. However, there was more demand for light gold jewellery. Apart from this, like every year, this Karva Chauth also people bought gold coins and bars. There was good footfall even in the shops which remain empty on normal days.