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The Confederation of All India traders (CAIT) has asked traders to increase their shares as people will buy more in the near future Diwali festival season.



stating a youGov report, CAIT has said that nearly 36 percent of people in the urban areas are likely to spend more during the Diwali season.

“The expected growth of business between cities will not be limited to cities alone, but traders in small towns and rural areas will also witness growth,” it said.

CAIT National President BCBhartia and Secretary General Praveen Khandelwal said YouGov’s report was based on the Diwali Spending Index, which shows that spending intent stands at 94-45 this year compared to 90.71 in 2021 and 80.96 in 2020 , which is also a parameter for economic recovery. In the past two years, consumers have faced a financial crisis as a result of the Covid pandemic.”

The prominent sector, the CAIT, is seeing growth in household appliances, travel, health and fitness, home decor and gold, among others. In addition to these sectors, the CAIT expects consumer electronics, mobile phones, ready-to-wear, gift items, FMCG sector, consumer durables, electrical appliances, etc. to see good business.

CAIT said the festival season would start all the way from August 31 to September 9, which will be celebrated prominently in Maharashtra, Gujarat, Madhya Pradesh, Tamil Nadu, Karnataka, Andhra Pradesh, Goa, etc. while the festival of Navratri, Ramlila and Durga Puja starts from September 26 to October 5 and Diwali on October 24.

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