Holi Festival Spurs 50k Crore Business Across India

EE News Desk Mar 22, 2024

This year, there's a new enthusiasm and excitement among traders across the country, including Delhi, towards the festival of Holi, with hopes for a better future in business once again. Compared to previous years, there's an estimated increase of nearly 50 per cent in business during the Holi season nationwide, resulting in a business worth more than 50 thousand crore rupees. In Delhi alone, the expected business is around Rs 5,000 crore. Similar to previous years, both traders and common people have completely boycotted Chinese goods sold during Holi. The import of Holi-related items in the country is approximately Rs 10, 000 crore, which was negligible this year.

Secretary General of the Confederation of All India Traders (CAIT) and BJP candidate from Chandni Chowk, Praveen Khandelwal, stated that this year, traders and consumers have boycotted goods made in China, and only herbal colours, gulal, water guns, balloons, sandalwood, puja items, clothing, and other items made in India are being sold in abundance. Additionally, there is a huge demand for sweets, dry fruits, gift items, flowers and fruits, clothes, furnishing fabrics, groceries, FMCG products, consumer durables, and various other products in the markets.

Khandelwal mentioned that this year, large-scale Holi events are being organised across Delhi and the rest of the country, resulting in a boost for banquet halls, farmhouses, hotels, restaurants, and public parks, witnessing good business after two years. In Delhi alone, more than 3,000 Holi celebration events are being organised, where people are experiencing a new joyous and enthusiastic atmosphere.

As the festival of Holi approaches, all wholesale and retail markets in Delhi are fully adorned. There is a rush of people in all markets to purchase not only colours and water guns but also other Holi-related items. Especially, sweet shops are witnessing a significant sale of traditional Holi sweets like gujiya.

Khandelwal said that Holi will be celebrated on 24 March in Delhi, while the colours festival will be celebrated on 25 March. The markets are also becoming colourful with various Holi-related items. Besides colourful gulal and water guns, shops are adorned with garlands and sweets made from dried fruits. People's daily shopping is increasing in the markets. Due to the tradition of taking garlands and sweets along with relatives on Holi, there is a crowd of people at the shops. Hence, there is hustle and bustle in the markets. The demand for chemical-free colours, herbal colours, abir, and gulal is more compared to artificial colours, and demand for balloons and water guns is higher than previous years. It is estimated that there will be record-breaking sales for traders on Saturday and the following Sunday.

Khandelwal mentioned that this time, various types of water guns, balloons, and other attractive items are available in the market. Pressure guns are available from Rs 100 to Rs 350, while tank-shaped water guns are available from Rs 100 to Rs 400. Besides, there is a craze for fancy pipes in the market. Children are liking Spiderman, Chhota Bheem, and similar characters, and there is a high demand for spray gulal.