The Confederation of All India Traders (CAIT) has projected a festive trade of over Rs 12,000 crore across the country during this Rakhi festival. The trade body reported a surge in Rakhi shopping enthusiasm, with markets bustling as people prepare for the celebration. CAIT has urged consumers to support Indian products during the festival.
Notably, this year's Rakhi season has seen a significant preference for indigenous Rakhis over Chinese ones. According to CAIT, "For several years now, only indigenous Rakhis have been sold in the country, and this year too, there was neither demand for nor any presence of Chinese Rakhis in the market."
Praveen Khandelwal, CAIT's National General Secretary and MP from Chandni Chowk, highlighted the growth in trade figures, stating that Rakhi-related business is set to reach Rs 12,000 crore, up from last year's Rs 10,000 crore. In previous years, the figures were Rs 7,000 crore in 2022, Rs 6,000 crore in 2021, Rs 5,000 crore in 2020, Rs 3,500 crore in 2019, and Rs 3,000 crore in 2018.
This year’s Rakhi offerings feature a diverse array of designs from various cities, reflecting local craftsmanship and pride. Among the popular choices are Khadi Rakhi from Nagpur, Sanganeri Art Rakhi from Jaipur, Seed Rakhi from Pune, Woolen Rakhi from Satna, Bamboo Rakhi, Tea Leaf Rakhi from Assam, Jute Rakhi from Kolkata, Silk Rakhi from Mumbai, Date Rakhi from Kerala, Pearl Rakhi from Kanpur, Madhubani and Maithili Art Rakhi from Bihar, Soft Stone Rakhi from Pondicherry, and Flower Rakhi from Bangalore.
The CAIT also noted a rising demand for Rakhis symbolizing national pride, including Tricolor Rakhi, Vasudhaiva Kutumbakam Rakhi, and Bharat Mata Rakhi. Designer and silver Rakhis are also experiencing strong sales.
The festive season this year is expected to see over Rs 4 lakh crore in sales, thanks to an extended festival period running from August 19 to November 15, concluding with Tulsi Vivah. CAIT emphasized that the business community is well-prepared, with traders having stocked up on a wide range of products to meet consumer demand throughout the extensive festival series.