Record-breaking Diwali Boosts Indian Economy, Dhanteras Sales Expected to Exceed Rs 50,000 Crore
The festive season in India has brought about a record-breaking Diwali, with Dhanteras sales expected to skyrocket to over Rs 50,000 crore. The enthusiasm shown by the traders and consumers during Dhanteras indicates a defiance of inflation concerns, as people embarked on a shopping spree. This trend is expected to continue, giving a significant boost to India’s economy. Experts believe that with the ongoing Cricket ODI World Cup acting as a catalyst, the Indian economy is poised to perform exceptionally well this quarter. It is estimated that the World Cup matches alone will contribute about $2.6 billion to the Indian economy. Furthermore, business on Dhanteras 2023 recorded an impressive total of Rs 17,000 crore in Uttar Pradesh alone, surpassing last year’s sales figures.
The surge in demand for various products has been witnessed across the country during this festive period. Gold, silver, cars, SUVs, bikes, electronics, durables, and iPhones are among the hot commodities with skyrocketing sales. The overall sales of gold and silver across India are expected to reach around Rs 30,000 crore.
As the celebration of Diwali draws near, preparations are in full swing across various states in India. Cities are adorned with vibrant festive decor, including lights, rangolis, and flowers, to create a joyous atmosphere. Diwali, observed on the new moon day, falls on November 12 this year.
In a remarkable feat, Ayodhya set a new Guinness world record by lighting over 22.23 lakh ‘Diyas’ (earthen lamps) during the ‘Deepotsav 2023’ celebration. This surpasses last year’s record of 15.76 lakh Diyas lit in the temple town on Diwali eve. Guinness Book of World Records recognized the Uttar Pradesh Government’s ‘Grand Deepotsav’ as representatives from the organization witnessed and acknowledged the remarkable achievement of lighting an unprecedented number of lamps at a single location.
Leaders such as Prime Minister Narendra Modi, President Droupadi Murmu, and other political figures have extended their warm greetings to the citizens on this auspicious occasion.
The festive spirit and enthusiasm exhibited during Diwali have created a tremendous economic boost for India. With Dhanteras sales surpassing expectations, the record-breaking figures indicate a robust economy. As the World Cup and festive season continue, the Indian economy is on track to shine brightly, benefiting various sectors and stakeholders.
