Janmashtami Boosts Sales Across India, Exceeds Rs 25,000 Crore: CAIT
The Janmashtami festivities this year sparked a significant business surge across India, with sales exceeding Rs 25,000 crore, as reported by the Confederation of All India Traders (CAIT). This remarkable figure reflects the robust consumer spending fueled by vibrant celebrations, making Janmashtami one of the most commercially active periods of the year.
CAIT's National General Secretary and Member of Parliament from Chandni Chowk, Praveen Khandelwal, highlighted that the festival saw large-scale sales in items such as flowers, fruits, sweets, deity costumes, decorative materials, fasting sweets, milk, curd, butter, and dry fruits. He emphasized that festivals like Janmashtami play a crucial role in bolstering the "Sanatan economy," thereby contributing significantly to the nation’s overall economic growth.
CAIT’s National President, BC Bhartia, noted that Janmashtami was celebrated with great enthusiasm, especially in North and West India, where the festivities were marked by joy and devotion. The festival, which commemorates the birth of Lord Krishna, was celebrated on August 26 this year, with devotees observing fasts and decorating temples and homes with flowers, diyas, and lights.
Elaborate decorations adorned temples, drawing large crowds of devotees. Key attractions of the celebrations included digital tableaux, selfie points featuring Lord Krishna, and various cultural performances. The festivities in urban areas saw numerous bhajans, religious dances, and spiritual discourses by saints. Additionally, several social organizations organized large-scale celebrations, further adding to the festive spirit.
Janmashtami, traditionally observed on the eighth day of the dark fortnight in the month of Bhadrapada, holds immense cultural and religious significance in India. According to scriptures, it marks the day of Lord Krishna's birth.
The surge in business activity during Janmashtami follows another successful festive season, with the CAIT earlier reporting over Rs 12,000 crore in sales during Rakhi. Comparing the growth trajectory, Rakhi-related sales increased from Rs 3,000 crore in 2018 to Rs 7,000 crore in 2022, demonstrating a consistent upward trend in festive spending across India.
Markets across the country are experiencing heavy footfall, with shoppers displaying high enthusiasm for the festive season.