With Covid behind them, Noida traders expect Diwali biz to touch Rs 1000 cr

Noida, Oct 23

The market is all decked up for Diwali, the first time after the pandemic that people are fearlessly roaming public places, shopping and making merry - without wearing masks.

Consumer products ranging from precious metals and vehicles to decorative items and sweets, is expected to see a roaring sale in two days. Compared to last year, this time the business is likely to be around 1,000 crores, breaking last year's record when trade had reached around Rs 800 crores.

What are people keen on buying

This time, the maximum emphasis is on buying vehicles (both two and four-wheelers), followed by gold, silver, decorative items, clothes, utensils, sweets, and other gifts.

So far, around 6,000 vehicles have been registered in RTO. On Dhanteras and Diwali together. There will be delivery of more than 1,600 vehicles, and around Rs 300 crores is expected to be the figure for vehicle business as people are excited for the delivery and bookings are increasingly taking place.

Sales professionals at automobile dealers and outlets are working double shifts and will be present on the days of the festivities so that maximum customers may be reached by Diwali and their vehicles delivered.

Besides, the sales of gold, silver and diamond jewellry is also set to hit a record with about 30 to 40 per cent jump expected. Due to the slowdown in the price, the number of buyers is likely to be more. There is every possibility of jewellery sales above Rs 100 crores.

One of the most important things is the sale of household utensils during this period.

S.K. Jain, president of Sector 18 Market Association, said that the festival is visible in the markets only after two years. He added that this year, the trade is expected to be about 30 per cent more than last year.