Economic impact of Holi festival on trade: Business expected to surpass Rs 60,000 crore this year

Instead, only Indian-made herbal colors, gulal, water guns (pichkari), balloons, sandalwood, pooja materials, apparel, and other items are being sold extensively.

Along with these, sweets, dry fruits, gift items, flowers and fruits, clothing, furnishing fabrics, groceries, FMCG products, consumer durables, and many other products are also in high demand across markets.

The CAIT said in an official statement that due to increased consumer spending, various business sectors are witnessing a sharp rise in Holi-related sales.

People are demanding white T-shirts, kurta-pajamas, and salwar suits for playing Holi with colours. At the same time, T-shirts with "Happy Holi" written on them are also witnessing steady demand in the market, it added.

Khandelwal emphasiSed that India is a land of festivals, and every festival or religious occasion inevitably boosts trade. Holi is expected to stimulate economic activities, benefiting local businesses, small traders, small-scale industries, and the MSME sector in particular. This Holi festival will also prove to be highly beneficial for traders and retailers across the country.

According to CAIT data, the Holi festival this year is expected to generate business worth over Rs 60,000 crore, a nearly 20 percent increase from the previous year's figure of Rs 50,000 crore. In Delhi alone, an estimated business of over Rs 8,000 crore is anticipated.

Khandelwal further mentioned that large-scale Holi celebrations are taking place across Delhi and the entire country, leading to a high demand for venues. As a result, banquet halls, farmhouses, hotels, restaurants, and public parks are fully booked for Holi events.

More than 3,000 Holi Milan celebrations of varying scales are being organized in Delhi alone, bringing visible joy and enthusiasm among the people. Several business, social, cultural, and religious organizations are actively hosting Holi Milan events.

With Holi approaching, Delhi's wholesale and retail markets are completely decorated and stocked. Shops are witnessing heavy footfall, especially for gulal, pichkaris, and other festive items.

Holi is not just a festival of colors but also a festival of food and delicacies. As expected, sweet shops are experiencing a massive surge in sales, particularly for Holi-special gujiyas and other festive treats.

Khandelwal informed that in Delhi, Holika Dahan will be held on March 13, while the festival of colors will be celebrated on March 14. Markets are already embracing the festive spirit with colorful gulal, water guns, gujiya garlands, and dry fruits filling shop displays.

The increasing number of shoppers indicates a strong festive buying trend. He also noted that it is customary for people to gift dry fruit garlands along with sweets and fruits to their relatives, which has further boosted market activity.

This year, consumers are favoring herbal gulal and natural colors over chemical-based ones. At the same time, the demand for water balloons and water guns (pichkaris) has significantly increased compared to previous years.

Khandelwal pointed out that markets are flooded with unique and attractive water guns and Holi items this year. Pressure water guns cost Rs 100 to Rs 350, tank-style water guns cost Rs 100 to Rs 400, and fancy pipe water guns are also trending in the market.

Children are especially drawn to water guns featuring popular characters like Spider-Man and Chhota Bheem. Additionally, spray-based gulal is witnessing very high demand among customers.