Traders in Noida upbeat about Diwali sales

NOIDA: Traders at Sector 18, one of the main market areas in the city, said they expect good business around Diwali and the sales figures are likely to go up by about 30% this time compared to last year.
They are hopeful about sales worth Rs 1,000 to Rs 1,200 crores and said gold and silver jewellery, along with electronic items, are in great demand. "There is an atmosphere of enthusiasm in the market and we hope that there will be good business this Diwali, starting from Dhanteras, which is on Tuesday. The sales are likely to be more than last year," said SK Jain, president, Sector 18 Market Association.
Jain, who is also the convener of the Confederation of All India Traders (CAIT), Delhi-NCR, added that the demand for gold is almost the same as it was before the pandemic hit. "India's gold demand rose by almost 50% year-on-year in the July-September quarter," he said, adding that silver and electronic items are also on demand.
According to Jain, so far this festive season, the sale of gold jewellery in Noida has been worth around Rs 250 crores. The sales figures for electronic items are Rs 200 crores and for garments, it is about Rs 100 crores. "Other gift items' sales figures are about Rs 200 crores. We have also seen the sales of utensils and the figure is Rs 50 crores, for decorative items, the number is about Rs 50 crores and furniture sales have been worth Rs 150 crores. For other items, the total sales figure is Rs 250 crores. Overall, we expect sales worth Rs 1,000-1,200 crore this time. Last year, it was Rs 800-1,000 crores," he said.
Sagar, a local resident said, this year, people seem more interested when it comes to shopping. "I bought some furniture, jewellery and other items," he said.