Grand Diwali: India's festive sales cross record Rs 6 lakh crore, creates 50 lakh temporary jobs

India's Diwali sales soared to a record Rs 6.05 lakh crore, according to the traders' lobby CAIT. This comprised Rs 5.40 lakh crore in goods and Rs 65,000 crore in services, representing a considerable increase from last year's Rs 4.25 lakh crore. The Confederation of All India Traders (CAIT) attributes this surge to the recent GST reform and strong consumer confidence. Notably, traditional and non-corporate physical markets powered this boom, accounting for 85 per cent of the total trade, signalling a powerful comeback for small traders across the country.

Business