India witnessed a record-breaking festive season this Diwali, with retail and trading sales reaching an unprecedented Rs 5.40 lakh crore, according to the CAIT Research & Trade Development Society, the research arm of the Confederation of All India Traders (CAIT). This marks a 25% increase over last year’s Rs 4.25 lakh crore, making it the highest-ever turnover in India’s retail history.

The nationwide survey, conducted across 60 major distribution hubs in Tier 1 to Tier 3 cities, indicates a sharp rise in consumer spending and trader confidence. Analysts attribute this growth largely to Prime Minister Narendra Modi’s push for Swadeshi products and rationalisation of GST rates, with the report highlighting Modi as a “strong brand ambassador" whose influence has significantly shaped consum

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