FreeCurrencyRates.com

इंडियन आवाज़     21 Oct 2017 03:11:20      انڈین آواز
Ad

DIWALI FESTIVE SPIRIT IS MISSING IN MARKETS: CAIT

30% SLOWDOWN IN MARKETS COMPARING LAST YEAR

AMN / NEW DELHI

Fire-crackersIt is just seven days away from Diwali, one of the most prominent and celebrated festival of India but markets across the Country wore a deserted look and festivity spirit is yet to be kicked off. Having very Less foot fall of the Consumers, the trading community feared a downward trend of about 30 % in sales in comparison to last year. Traders are worried for the stocks which they have already procured in anticipation of good business this festival.

Items like Consumer durables, FMCG products, Electronics, Kitchen Appliances & Accessiries, Luggage, Watches, Gift Items, Sweets, Dry Fruits, Home Decor, Light Fittings , Watches, Readymade Garments, Decoration Items , furnishing fabrics are some of the business verticals which are worst affected though there is general slowdown in the markets across Country. Real Estate, Jewellery and Bullion are also not doing fair business.

In India the festival season starts with first Navratri and goes upto 14th December and further resume on 14th January and goes upto April. In between Christmas and New Year also included in festive season in month of December.

CAIT National President Mr B C Bhartia & Secretary General Mr Praveen Khandelwal said that Less footfall of the consumers in the markets because acute cash liquidity is the main reason for slow down . Consumers are more inclined to buy only essential commodities and not having any flair to buy other goods because of cash shortage in their pockets. Large investments by general people have been done in real estate and gold which is not doing fair business resulting into blockage of their moveable money. On the other hand merchants have invested in procuring stocks for Diwali festivals also blocking money circulation in the market. The slowdown is further multiplied by glitches in GST turning to be a situation of chaos in the markets all over the Country. Confusion still prevails to a great extent which is more bothering traders. Tax compliance of almost all taxes falls in this month only. Over and above most of the items related to festival are under bracket of 28% GST tax rate which Consumer is hesitating to pay terming it as one third cost of the product. E commerce portals indulging into unfair business practices offering unrealistic discounts also contribute much in restraining consumers to go to markets.The situation is gloomy for the traders and its hoped that this Diwali is not going to be a good festival occasion for them to celebrate with much fan fare due to major slow down in sales.

Leave a Reply

You have to agree to the comment policy.

Ad

NEWS IN HINDI

बिहार में थाने का घेराव कर रही भीड़ पर फायरिंग, 1 की मौत; 25 घायल

AMN समस्तीपुर के ताजपुर में कारोबारी की हत ...

हिमाचल प्रदेश चुनाव: 9 नवंबर को वोटिंग, 18 दिसंबर को नतीजे

AMN / NEW DELHI चुनाव आयोग ने आज हिमाचल प्रदेश विध ...

आरुषि मर्डर केस: इलाहाबाद HC ने तलवार दंपत्ति को बरी किया

इलाहाबाद चर्चित आरुषि-हेमराज हत्याकांड ...

Ad
Ad
Ad

SPORTS

Football: Coach Matos short lists 29 players for preparatory camp

H S BEDI / New Delhi U-19 national team head coach Luis Norton de Matos, has summoned 29 probables for the ...

India tharshes Malaysia 6-2 in Asia Cup hockey tournament

India defeated Malaysia 6-2 in their second Super 4 stage match of the Asia Cup hockey tournament at Dhaka tod ...

Ad

Archive

October 2017
M T W T F S S
« Sep    
 1
2345678
9101112131415
16171819202122
23242526272829
3031  

OPEN HOUSE

Mallya case: India gives fresh set of documents to UK

AMN India has given a fresh set of papers to the UK in the extradition case of businessman Vijay Mallya. Ex ...

@Powered By: Logicsart

Help us, spread the word about INDIAN AWAAZ

RSS
Follow by Email20
Facebook210
Facebook
Google+100
http://theindianawaaz.com/diwali-festive-spirit-is-missing-in-markets-cait">
LINKEDIN