Noida traders optimistic as business picks up pace in festive season

Noida: Traders in Noida’s Sector 18 market are hoping to have a brisk business as the festive season is underway

Noida: Traders in Noida’s Sector 18 market are hoping to have a brisk business as the festive season is underway. Representatives of the market associations said that after being badly hit during the Covid-19 pandemic, the market is reviving, with several new brands setting up shops in Sector 18.

Noida, India- October 06, 2022: A view of the Sector 18 market. Two years after pandemic, traders are hoping for high profits in this festive season, in Noida, India, on Thursday, October 06, 2022. (Photo by Sunil Ghosh / Hindustan Times) (To go with Ashni’s story) (Hindustan Times)

According to SK Jain, president of Sector 18 Market Association and member of Confederation of All India Traders (CAIT), the Sector 18 market is expected to fetch business worth ₹5,000 to ₹5,500 crore this year.

“Customers’ footfall increased considerably in the Sector 18 market with Karva Chauth, Dhanteras, Diwali and Bhai Dooj falling this month. Last year, even though there were some Covid-19 restrictions, the Sector 18 market fetched business worth ₹3,500 crore. This year, traders are expecting a business of at least ₹5,000 to ₹5,500 crore,” said Jain.

Jain informed that several new showrooms have opened in the market as well. “During the pandemic, markets were the worst affected as restrictions led to the closing of our shops and during relaxation, markets used to be the last to open. Moreover, we also suffered due to night curfews. All these factors had resulted in many people shutting their shops. However, in the last three months, over 10 new showrooms have opened in the Sector 18 market,” said Jain.

“There has been a surge in the number of new restaurants opening up in Noida and during the festive season, eating out becomes a norm. Residents have been confined to their homes for a long time and are ready to experience new options in terms of food and restaurants. A number of new restaurants have opened up across the city just ahead of the festival season,” said Varun Khera, president, National Restaurant Association of India’s (NRAI) Noida chapter.