Diwali Trade Rs 6.05 Lakh Crore, UPI Soars

CAIT data show record Diwali trade of about Rs 6.05 lakh crore—roughly Rs 5.40 lakh crore in goods plus Rs 65,000 crore in services—a 25% year‑on‑year rise attributed largely to GST rationalisation and the government's “Vocal for Local/Swadeshi” push that led 87% of shoppers to prefer Indian‑made goods. CAIT's survey found mainline brick‑and‑mortar retail accounted for about 85% of sales, rural and semi‑urban areas contributed roughly 28%, around 72% of traders credited GST cuts for higher volumes, and the festival generated approximately 5 million temporary jobs. Sector winners included grocery/FMCG (12%), gold and jewellery (10%), electronics (8%), and consumer durables and apparel (~7% each), prompting CAIT to urge simpler GST compliance, expanded credit for small traders and improved logistics. India’s digital payments surged during the festival, with UPI average daily value up about 13% month‑on‑month to around Rs 94,000 crore and record volumes peaking near 740 million transactions in a day, putting October on track to be its biggest month and potentially top Rs 28 lakh crore. The seasonal boom also highlighted changing consumer tastes—India’s Rs 46,571‑crore snacks market is evolving with legacy players and premium startups competing, and small businesses abroad report inflationary input‑cost pressures but are adapting procurement and expansion strategies.