Waugh delighted the locals here with his presence at a private function.
The festival is believed to signal good fortune in the coming year.
His former teammates such as Ricky Ponting, Adam Gilchrist and Brett Lee are busy playing in the cash-rich Indian Premier League (IPL).
Waugh was here to mark the launch of the operations of the Australia-based OGM Technical Institute, of which he is the brand ambassador.
He has also scored over 7500 runs in 325 One-day Internationals.
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