Business boom: Trade estimated to touch Rs 7.58 lakh crore, says BUVM

Jaipur, Oct 13 (IANS) India’s economy is experiencing a significant boost this festive and wedding season, with the Bharatiya Udyog Vyapar Mandal (BUVM) estimating a whopping Rs 7.58 lakh crore in total trade turnover. From Dussehra and Diwali to Dhanteras, Chhath, and the onset of wedding celebrations, markets across the country are witnessing unprecedented footfall and spending.

The surge is being attributed in part to Prime Minister Narendra Modi’s Independence Day appeal on August 15, where he urged citizens to adopt Swadeshi (indigenous) products. That call has now evolved into a nationwide movement, with traders actively promoting Indian-made goods. Additionally, recent GST reforms have encouraged consumer sentiment and eased business operations, according to BUVM.

To estimate the scale of business this season, the BUVM formed a national committee comprising trade leaders from major cities like Mumbai, Delhi, Chennai, Jaipur, Ahmedabad, Bangalore, Kolkata, and Hyderabad, among others. The panel's report was released by BUVM National President Babulal Gupta and General Secretaries Mukund Mishra and Hemant Gupta.

The figures paint a vivid picture of sectoral activity: automobile sales alone - including cars, motorcycles, tractors, and commercial vehicles - are expected to generate Rs 1.3 lakh crore, while real estate, including plots, flats, villas, and construction materials, is estimated to contribute Rs 1.2 lakh crore.

Essential commodities like groceries and food staples are expected to account for Rs 1 lakh crore.

The jewellery segment, including gold, silver, and precious ornaments, is projected to bring in Rs 50,000 crore, while traditional Diwali purchases such as steel, brass, and copper utensils are likely to cross Rs 50,000 crore.

Electronics and home appliances, too, are seeing strong demand, together expected to touch Rs 50,000 crore. Segments like wedding wear, dry fruits, home decor, cosmetics, lighting, furniture, and gifting are witnessing steady business, with the wedding season expected to add momentum following Diwali.

Firecrackers, particularly popular in Uttar Pradesh, are projected to cross Rs 10,000 crore in sales. BUVM noted that regional festivals, such as river worship and Chhath rituals in UP and Bihar, also contribute significantly to local economies.

Speaking to the media, BUVM President Babulal Gupta said that the festive rush began with Dussehra on October 2 and will continue through Chhath Puja (October 25–28) and into the wedding season.

He noted that this is also the period when farmers bring their fresh harvests—paddy, millet, soybean, maize, pulses, and grains—to market, boosting both supply and spending in rural and urban areas.

General Secretary Mukund Mishra added that festive sentiment and strong consumer demand, especially for Indian-made goods, are helping fuel economic activity across sectors.

He emphasised that the adoption of Swadeshi products is not just a symbolic gesture but now a commercial trend reshaping India’s retail landscape.

With retail confidence running high and the market pulsating with festive energy, this season is not just about celebrations—it is becoming a powerful symbol of India's economic resilience and consumer strength.

--IANS

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