India’s Retail Hits ₹5.4 Lakh Crore In Festive Sales
India’s retail sector recorded its highest-ever festive season turnover between Navratri and Diwali, with goods sales reaching about ₹5.40 lakh crore and services adding ₹65,000 crore, according to a nationwide survey by the Confederation of All India Traders (CAIT).
Growth Over Last Year
This year’s numbers reflect a 25% jump compared with the previous year, when sales were estimated at ₹4.25 lakh crore. Traders credited the surge to reduced GST rates and strong consumer demand across categories like footwear, garments, home decor, confectionery and household goods.
Role Of Offline Retail
CAIT noted that around 72% of traders reported better sales this season. The majority of purchases were made through offline outlets, showing the continued dominance of traditional retail stores despite growing e-commerce activity.
Services Sector Contribution
The services sector also saw strong gains, with travel, hospitality, logistics and event management contributing significantly to the additional ₹65,000 crore. This indicates that festive spending extended well beyond consumer goods.
Economic Significance
Experts say the record sales highlight strong consumer confidence and the resilience of India’s consumption-driven economy. They also noted that sustaining this momentum during the post-festive wedding season and year-end sales will be critical for continued growth.
