India’s Rakshabandhan festivities set to boost festive trade with over Rs 12,000 crore sales, says CAIT

As the nation gears up to celebrate Raksha Bandhan, the Confederation of All India Traders (CAIT) has projected an impressive festive trade of over Rs 12,000 crore across the country. This surge in economic activity is fueled by a wave of enthusiasm for Rakhi shopping, with bustling markets reflecting the festive spirit. CAIT has emphasized the importance of supporting Indian products during this time, urging consumers to choose locally-made items.

This year, the preference for indigenous Rakhis over their Chinese counterparts has been particularly noteworthy. According to CAIT, the trend of buying only Indian-made Rakhis has gained strong momentum over the past few years, and this year is no exception. The market has seen a complete absence of demand for Chinese Rakhis, a stark contrast to previous years.

Also read: Supreme Court to hear suo motu case on Kolkata doctor's rape and murder

Praveen Khandelwal, CAIT's National General Secretary and Member of Parliament from Chandni Chowk, highlighted the substantial growth in Rakhi-related trade, projecting that the business would reach Rs 12,000 crore this year, a significant increase from last year's Rs 10,000 crore. He further outlined the upward trend in festive trade over the past few years, with figures rising from Rs 7,000 crore in 2022, Rs 6,000 crore in 2021, Rs 5,000 crore in 2020, Rs 3,500 crore in 2019, and Rs 3,000 crore in 2018.

This year's Rakhi offerings are characterized by a rich diversity of designs, each reflecting the unique craftsmanship of various cities across India. Among the popular choices are the Khadi Rakhi from Nagpur, Sanganeri Art Rakhi from Jaipur, Seed Rakhi from Pune, Woolen Rakhi from Satna, Bamboo Rakhi, Tea Leaf Rakhi from Assam, Jute Rakhi from Kolkata, Silk Rakhi from Mumbai, Date Rakhi from Kerala, Pearl Rakhi from Kanpur, Madhubani and Maithili Art Rakhi from Bihar, Soft Stone Rakhi from Pondicherry, and Flower Rakhi from Bangalore. This variety not only showcases the country's rich cultural heritage but also reinforces the growing preference for locally-made products during this festive season.