Cap on biz hrs removed, traders expect surge in sale during Dhanteras

Jamshedpur: With the state government recently lifting the Sunday ban on opening of establishments and the cap on business hours on commercial establishments, which was fixed at 8 pm between Mondays and Saturdays, businessmen in Steel City are upbeat about making brisk business during the ongoing festival of Dhanteras.
“With the government lifting the Covid curbs, enthusiasm among the shopkeepers and the buyers is palpable and this enthusiasm is likely to be reflected in the festive sale and our early reports suggest that business would be encouraging this time,” entrepreneur and Singhbhum Chamber of Commerce and Industry’s member Bharat Vasani said.
With more than Rs 300 crore being distributed as bonus by the companies among their employees in Steel City and in the adjoining ancillary town of Adityapur, traders expect that a major chunk of the amount will be spent during the Dhanteras-Diwali period.
The traders of vehicles, jewellery, home appliances and electronic gadgets have already predicted a jump of 20% in sales.
Even the sale of vehicles has gone up apparently with many applying for loans during this time. HDFC employee Shailesh Tiwary, who has works in the bank’s car loan department, said, “As per whatever I have gathered about car bookings from various showrooms, Dhanteras and Diwali bookings would see a jump of about 20%.”
The proprietor of Gamharia-based Maa Kalyani showroom, R M Kumar, said bookings for two-wheelers is expected to go up this year.
Market sources have hinted at 900 plus bookings for two-wheelers on the eve of Dhanteras.
“Even home appliances like refrigerators and washing machines and smart TVs are in demand this year,” proprietor of Sakchi-based National Electronics Raja Singh said.
Smartphones, like every year, are in high demand though the middle-class customers are going for the moderately expensive ones, as per Sunny Mishra, who owns a mobile shop in Kadma market.
Kitchen appliances’ dealer Santosh Gupta said, “Even though e-commerce giants like Flipkart and Amazon have mushroomed like anything, customers still prefer buying utensils physically and so, I expect a good business during this time.”
Seeing the surge in demand, the trade bodies expect that around Rs 400 crore will come into the market during the Dhanteras-Diwali period. “State and central government employees and the business class, along with those working in private firms, spend their money in purchasing new items during this period. So we expect a surge in revenue during this time,” Confederation of All India Traders’ national secretary Suresh Sonthalia said.