Raksha Bandhan trade expected to cross Rs 30,000 crore: CAIT
Retail activity across India has picked up sharply ahead of Raksha Bandhan, with the festival expected to generate more than Rs 30,000 crore in business this year, according to the Confederation of All India Traders (CAIT) on Tuesday.
CAIT National Secretary General and Chandni Chowk MP Praveen Khandelwal said that the rakhi segment alone is projected to account for around Rs 25,000 crore, while Delhi is expected to contribute nearly Rs 4,000 crore to the rakhi trade.
With just four days left for the festival, markets in Delhi and other parts of the country are witnessing a surge in consumer footfall. Major markets in the national capital, including Chandni Chowk, Sadar Bazaar, Karol Bagh, Lajpat Nagar, Kamla Nagar, Rajouri Garden, Gandhi Nagar, Khari Baoli and Laxmi Nagar, have reported heavy crowds as shoppers make their final purchases.
Khandelwal said the overall festival economy will extend well beyond rakhi sales. Spending on gifts, sweets, clothing, electronics, decorative items, dry fruits, puja articles and other festive products is expected to push the total Raksha Bandhan-related trade above Rs 30,000 crore.
This year's celebrations are also seeing growing demand for themed and locally made rakhis. Alongside traditional designs, rakhis inspired by government welfare initiatives, India's growing global standing and the vision of Viksit Bharat 2047 have emerged as popular choices.
Among the designs attracting attention are Viksit Bharat Rakhi, Modi Guarantee Rakhi, BrahMos Rakhi, Nari Vandan Rakhi, Atmanirbhar Bharat Rakhi, Vocal for Local Rakhi, Bharat Gaurav Rakhi, Lakhpati Didi Rakhi, Namami Gange Rakhi, Rashtra Raksha Sutra Rakhi and Amrit Kaal Rakhi.
According to Khandelwal, children and young consumers are showing particularly strong interest in BrahMos, Rashtra Raksha Sutra and Viksit Bharat rakhis, while Nari Vandan and Lakhpati Didi rakhis are gaining popularity among women for their focus on women’s empowerment and self-reliance.
He said Raksha Bandhan is increasingly becoming more than a celebration of the bond between brothers and sisters. The festival is also creating a platform for promoting indigenous products, self-reliance, women’s entrepreneurship, environmental awareness and national pride.
The growing demand for locally produced rakhis is expected to benefit women entrepreneurs, self-help groups, cottage industries and local artisans across the country, providing them with additional income during the festive season.
