 "Diwali cheer for traders: CAIT says sales up 20% across India to Rs 300 bn")
The national traders body CAIT has said there was a 20 per cent volume growth during Diwali sales across the country at Rs 300 billion.
In 2017, the total sales stood at Rs 250 billion, CAIT secretary general Praveen Khandelwal said in a statement Thursday.
"During last four years, there was a slump during Diwali sales. However, this year traders did good business during compared to last year," Khandelwal said.
In Delhi alone, sales volume crossed over Rs 50 billion, he added.
Consumer durables like electronics and electrical items and FMCG products like decoration and gift items, dry fruits, sweets & namkeens, readymade garments, biscuits, confectionary items etc, did brisk business, he said, adding traders of computer and computer peripherals, paints, hardware, and kitchen appliances & equipments also saw spike in their volumes.
Khandelwal reiterated that widening e-commerce without any regulations is causing loss to offline trade and demanded setting up of a regulatory authority.
"In absence of a proper e-commerce policy, online companies are doing business without any checks and balances. Government should frame an e-commerce policy immediately and set up a regulatory authority to regulate and monitor them," he said.