Festive season sees record retail trade of Rs 3.75 trillion: CAIT

Retail markets across India registered a record trade of Rs 3.75 lakh crore during this festive season so far, traders' body CAIT said on Monday.

The Confederation of All India Traders (CAIT) stated that festivals like Goverdhan Pooja, Bhaiya Dooj, Chhath Pooja and Tulsi Vivah are yet to be solemnised, which may attract additional trade worth Rs 50,000 crore.

"Notably, almost only Indian products were sold and purchased this Diwali, which is remarkable," it stated.

CAIT Secretary General Praveen Khandelwal said Chinese goods lost a trade of worth more than Rs 1 lakh crore during the Diwali festive season.

"In previous years, Chinese products were occupying nearly 70 per cent market of Diwali festivals. However, this year, appeal of Prime Minister Narendra Modi to make this Diwali vocal for local has gone down well and widely accepted and implemented by both traders and consumers," he said.