Janmashtami festivities across India resulted in a record-breaking business surge, with transactions exceeding Rs 25,000 crore, according to the Confederation of All India Traders (CAIT). The vibrant celebrations of Janmashtami, one of the most commercially active periods of the year, drove robust consumer spending.
Significant Sales in Key Categories
CAIT’s National General Secretary, Praveen Khandelwal, stated that during the Janmashtami festival, large-scale sales were observed in various categories, including flowers, fruits, sweets, deity costumes, decorative items, fasting sweets, milk, curd, butter, and dry fruits.
Festivals as Drivers of the Sanatan Economy
Khandelwal emphasized that festivals like Janmashtami are an integral part of the Sanatan economy, which strengthens the nation’s economy as a whole. CAIT’s National President, BC Bhartia, noted that Janmashtami was celebrated with great enthusiasm across the country, particularly in North and West India
Festivals as Drivers of the Sanatan Economy
Khandelwal emphasized that festivals like Janmashtami are an integral part of the Sanatan economy, which strengthens the nation’s economy as a whole. CAIT’s National President, BC Bhartia, noted that Janmashtami was celebrated with great enthusiasm across the country, particularly in North and West India.
Vibrant Celebrations and Decorations
Krishna Janmashtami was celebrated on August 26, 2024, across the country. Devotees traditionally fast and decorate temples and homes with flowers, diyas, and lights. Temples were adorned attractively, drawing large crowds of visitors.
Innovative Attractions and Celebrations
The Janmashtami festival featured special attractions such as digital tableaux, selfie points with Lord Krishna, and many other delightful scenes. Cities witnessed numerous bhajans, religious dances, and discourses by saints and sages. Various social organizations also organized large-scale Janmashtami celebrations.
Significance of Janmashtami
According to scriptures, Janmashtami is celebrated on the eighth day of the dark fortnight of the month of Bhadrapada, marking the birth of Lord Krishna.
Anticipation for Upcoming Festivals
Earlier this month, CAIT anticipated a festive trade of over Rs 12,000 crore across the country during the Rakhi festival. The trade body reported a steady increase in Rakhi business over the years, from Rs 3,000 crore in 2018 to Rs 7,000 crore in 2022.
Enthusiastic Market Response
The markets are witnessing a massive rush for shopping, and people are very enthusiastic about the upcoming festivals, according to CAIT.Summary: Janmashtami festivities across India generated a record-breaking business surge of over Rs 25,000 crore, driven by robust consumer spending in various sectors. CAIT highlighted the significance of festivals in the Sanatan economy and the steady growth in Rakhi business over the years. The markets are witnessing an enthusiastic response from shoppers in anticipation of upcoming festivals.
