Janmashtami drives business across India, sales exceed ₹25,000 crore

CAIT highlighted that Janmashtami and other festivals are vital to the Sanatan economy, with Janmashtami alone generating over ₹25,000 crore in transactions.

Janmashtami festivities across the country led to a business surge, with transactions exceeding ₹25,000 crore, according to the Confederation of All India Traders (CAIT).

Numbers of devotees at the ISKCON temple at ISKCON temple on Janmashtami, in Patna.(PTI)

These figure highlight the robust consumer spending during the festival driven by the vibrant celebrations of Janmashtami, marking one of the most commercially active periods of the year.

CAIT's National General Secretary and Member of Parliament from Chandni Chowk, Praveen Khandelwal, stated that during this significant festival, large-scale sales were observed, particularly in flowers, fruits, sweets, deity costumes, decorative items, fasting sweets, milk, curd, butter, and dry fruits.

Khandelwal said that festivals like Janmashtami are an important part of the Sanatan economy, which strengthens the nation's economy.

CAIT's National President, BC Bhartia said that Janmashtami was celebrated with great enthusiasm across the country, especially in North and West India, where the festival was celebrated with much joy.

Krishna Janmashtami was celebrated on August 26 this year across the country. Devotees traditionally fast and decorate temples and homes with flowers, diyas, and lights.

Temples were decorated attractively, and there were large crowds of people visiting them.

He highlighted that the special attractions of the Janmashtami festival included digital tableaux, selfie points with Lord Krishna, and many other delightful scenes.

In cities, there were numerous bhajans, religious dances, and discourses by saints and sages. Various social organizations also organized large-scale Janmashtami celebrations.

According to scriptures, Janmashtami is celebrated on the eighth day of the dark fortnight of the month of Bhadrapada. It is the day Lord Krishna was born.

Earlier this month, the CAIT anticipated a festive trade of over ₹12,000 crore across the country during the Rakhi festival.

In 2022, the business during the Rakhi festival stood at around ₹7,000 crore, in 2021 it was ₹6,000 crore, in 2020 it was ₹5,000 crore, in 2019 it was ₹3,500 crore, and in 2018 it was ₹3,000 crore, as per Khandelwal.

The trade body said that the markets are witnessing a massive rush for shopping, and people are very enthusiastic about the festival.