NEW DELHI: Finance Minister Nirmala Sitharaman on Wednesday highlighted the surge in Diwali sales this year which touched a record Rs 6.05 lakh crore, driven by GST rate cuts and strong demand for ‘swadeshi’ products.
The Finance Minister cited the statement of the Confederation of All India Traders (CAIT) which estimated this year’s Diwali sales comprising Rs 5.4 lakh crore in goods and Rs 65, 000 crore in services.
This marks a 25 per cent jump over the 2024 festive sales of Rs 4.25 lakh crore from the Navratri to Diwali period and is the highest-ever sales in India’s trading history, according to Research and Trade Development Society, the research wing of CAIT.