Surat retailers did a brisk business of Rs 400 Cr during the Diwali festival season

By TBT Web Desk On Oct 26, 2022

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Surat: The economic capital of Gujarat, Surat has registered a whooping Rs 400 crore worth of retail business in the pre-Diwali sale in different segments such as readymade garments, saris, Kurtis, dry fruits, sweets, gems and jewellery, footwear, garments etc.

The retail markets in the city such as Chauta Bazaar, Bhagal, Ruwala Tekra, Prime Arcade, Adajan, Anand Mahal Road, and Baroda Pristage witnessed a sea of people thronging the retail shops in the last couple of days of the Diwali and New Year festivities.

Confederation of All India Trader (CAIT) (Gujarat chapter) stated that after the dull Diwali for two years i.e 2020 and 2021 due to the coronavirus pandemic, the retailers in the city did a brisk business as people had thronged the markets for the last minute Diwali purchases.

Pramod Bhagat, president of CAIT (Gujarat) said, “The retail business pre-Diwali has been amazing. People thronged the markets for purchase an array of goods for the festival”. “There was 20-30 per cent loss to the retailers due to the e-commerce website selling Diwali wares online at discounted prices.”

According to Bhagat, the people in Surat purchased Rs 300 crore worth of gems and jewellery and Rs 1,600 crore worth of vehicles including electric vehicles (EVs) ahead of the Diwali festival.

Also, the people in Surat spent Rs 50 crore for the purchase of firecrackers to celebrate Diwali and New Year.

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