The Rakhi festival this year is expected to break records, with sales across the country predicted to surpass ₹12,000 crore, showcasing a significant rise in consumer spending. This surge in sales reflects a growing preference for Indian-made products and a move away from Chinese alternatives.
The Confederation of All India Traders (CAIT) has reported a bustling market this festive season, with shoppers showing a strong interest in locally-produced Rakhis. Indigenous Rakhis continue to be the top choice this year, with little demand for Chinese versions.
Pune’s Seed Rakhis have emerged as a favorite among consumers, gaining popularity nationwide. CAIT has urged both traders and shoppers to opt for Indian-made products and support local artisans.
Praveen Khandelwal, CAIT’s National General Secretary, has projected that this year’s Rakhi business could hit ₹12,000 crore, a substantial increase from ₹10,000 crore in 2022. Previous years saw sales of ₹7,000 crore in 2022, ₹6,000 crore in 2021, ₹5,000 crore in 2020, ₹3,500 crore in 2019, and ₹3,000 crore in 2018.
Unique varieties of Rakhis from different regions are driving the impressive sales figures this year. Examples include Khadi Rakhis from Nagpur, Sanganeri Art Rakhis from Jaipur, Seed Rakhis from Pune, Woolen Rakhis from Satna, Bamboo Rakhis made from tribal products, Tea Leaf Rakhis from Assam, Jute Rakhis from Kolkata, and Silk Rakhis from Mumbai. These diverse offerings showcase the rich diversity of traditional Indian crafts.
The focus on Indian products has gained momentum, with a clear shift towards supporting locally-made goods. CAIT has been running a campaign for the past four years to promote the purchase of Indian products and discourage the use of Chinese goods, especially during festive periods. This initiative aims to boost local producers and instill a sense of national pride in indigenous crafts, as highlighted by Sachin Nivangune, CAIT’s State President.
Thanks For Reading Report of Punepress.com