Wednesday, November 13, 2024
HomeNews ReportsGujarat: Diwali brings bumper sale for Surat, spike seen in textile, electronics and jewellery

Gujarat: Diwali brings bumper sale for Surat, spike seen in textile, electronics and jewellery

Diwali festivities brings cheer as economy begins to revive as people go shopping a year after the celebrations were marred due to coronavirus pandemic.

Diwali 2021 brought broad smiles to the faces of business owners in Surat. The business in the textile, electronics, and jewellery sectors started to speed up at least two months before Diwali. According to Janak Dave, News18 Bureau Chief, in two months, the textile sector saw sales up to 13,000 crores. On the other hand, the jewellery sector saw sales figures close to 500 crores and the electronics sector saw sales up to 350 crores.

Reportedly, this year sales were better than the time prior to GST was enacted. According to a report in ANI, Surat jewellery stores saw a surge in the number of buyers close to the festival. As Covid-19 cases were down and gold prices were down as well, the shoppers bought gold not only as an investment but also as gifts for Diwali and the upcoming wedding season.

A report in the Indian Express noted that the sales crossed Rs. 100 crores on Dhanteras in the diamond-studded gold jewellery sector along with normal gold and silver jewellery. Salim Daginawala, president, Surat Jewellers Association, said, “In 2019, the sales were close to Rs 80 crore and was nearly Rs 60 crore last year. This year, the sales have boomed to over Rs 100 crore in the city. This shows that those who had not made purchases in 2020 have bought this year. Since the past few months, there has been a boom in all sectors of industries, and at last, our industry has also benefitted.”

Speaking to OpIndia about the sentiment of people during the festive season, Manoj Agarwal, chairman of Federation Of Surat Textile Traders Association (FOSTTA), said that this year was much better than previous years. He said, “We are extremely happy with the business that we are getting this year. I cannot confirm the numbers at the moment, but I can assure the sector had not seen such spike in the business since 2016.”

Echoing Agarwal’s statement, Rohan Shah, senior representative, Surat jewellery Manufacturers’ Association, said, “The business was more than we expected. Everyone was delighted to see that people were coming out to buy jewellery during festival season.”

Businesses across the country boomed during Diwali

Confederation of All India Traders (CAIT), a body of 70 million traders across the country, reported Rs 1.25 trillion worth of business during Diwali. Reports suggest that it has been ten years since such trade figures were reported by CAIT during festival season. Such massive scale of shopping contributed to ending the economic slowdown that the industry was suffering from the past two years following the Pandemic.

Join OpIndia's official WhatsApp channel

  Support Us  

Whether NDTV or 'The Wire', they never have to worry about funds. In name of saving democracy, they get money from various sources. We need your support to fight them. Please contribute whatever you can afford

Anurag
Anuraghttps://lekhakanurag.com
B.Sc. Multimedia, a journalist by profession.

Related Articles

Trending now

Recently Popular

- Advertisement -