Traders, retailers clock Rs 20,000 crore in Holi sales this year: CAIT
Ease of Doing Business for MSMEs: Traders, retailers across the country registered around a 30 per cent jump in Holi sales this year from the year-ago period, according to CAIT. The traders’ body said business worth around Rs 20,000 crore, according to an estimate, was recorded without any sale of Chinese goods. “After a gap of two years (due to Covid) and witnessing the worst days ever in the business, this year Holi sales proved to be a tremendous boon for which the retail sector of the country was eagerly waiting. Earlier, Chinese export of goods primarily colours, toys, balloons etc., during Holi season used to be worth around Rs 10,000 crore,” CAIT said in a statement.
Praveen Khandelwal, Secretary General, CAIT said Made in India goods including herbal colours, water gun, balloons, chandan, dress material registered huge sales while sweets, dry fruits, gift items, textiles, flowers and fruits, toys, furnishing fabric, kirana, FMCG products, consumer durables, pooja material etc., also had tremendous sales, giving an indication of better days for the trade in the future.
The second wave of the pandemic and restrictions enforced by the central government and state governments had cost traders business loss of around Rs 35,000 crore during Holi last year, CAIT had said in a statement. Traders had called for the boycott of Chinese goods back in June 2020 in the aftermath of the border skirmish between Indian and Chinese soldiers in the Galwan valley. According to CAIT, the boycott of Chinese goods had cost China Rs 40,000 crore business loss during Diwali 2020 that jumped to more than Rs 50,000 during Diwali last year.
Despite India’s focus on self-reliance and reducing imports from China, the bilateral trade between the two countries jumped 43.3 per cent in 2021 to $125.6 billion from $87.6 billion in 2020, according to the data from the China General Administration of Customs. Imports from China increased to $97.5 billion in 2021, up 46.1 per cent from $66.7 billion in 2020 while exports to China grew 34.9 per cent to $28.1 billion in 2021 from $20.9 billion in 2020. Most of the goods imported from China such as telecom instruments, computer hardware and peripherals, fertilisers, electronic components, consumer electronics, electrical machinery, have MSMEs’ presence.