CAIT Projects ₹25,000 Crore Turnover This Karva Chauth as Festive Demand Rises

With the start of Navratri, the festive season has gained momentum in the market. Markets across the country are also decorated for the festival of Karva Chauth, which falls on Friday, October 10th. Bullion markets and clothing stores are experiencing the most activity.

Businesspeople say that this year's market is busier than during previous Karva Chauths. It is expected that this will also influence business. Praveen Khandelwal, the National General Secretary of the Confederation of All India Traders (CAIT), said that around ₹25,000 crore worth of transactions are expected nationwide on Karva Chauth. Last year, the turnover was about ₹22,000 crore.

Khandelwal mentioned that the festival of Karva Chauth has become not only an emotional celebration but also a boost to the Indian economy. That's why traders across the country start preparations early to make this festival special. This year, sales of jewelry, clothing, cosmetics, gift items, sweets, and other decorative goods are seeing an increase.

Bullion traders note that rising gold and silver prices are expected to lead to a decline in jewelry purchases. Gold, in particular, continues to hit record highs and is currently around ₹1.26 lakh per 10 grams. Silver has also reached ₹1.63 lakh per kilogram. As a result, most women plan to buy small gold jewelry weighing one or two grams. According to bullion traders, the record-breaking price rise might reduce gold sales by weight on Karva Chauth. Still, sales by value are expected to be higher than last year.