Diwali graces Noida markets

This year the markets are expected to do better than last year. After 2 years people have come out of their homes to shop for Diwali. The markets and malls of Noida and Greater Noida are back again with a lot of crowds.

The preparations for celebrating Diwali have started in full swing in Noida. There is a lot of excitement in the markets of the city.  A large number of people were seen shopping for Ganesh-Lakshmi idols,  clothes, worship materials, diyas, decorative items, lights, toys in the market. The added crowd also caused traffic congestion in many markets.

Section 144 has been implemented in Gautam Budh Nagar district till November 30 because of the Covid-19 and upcoming festivals. Amidst Diwali and Chhath Puja, prevention becomes very important. Given this, Section 144 has been imposed in the district.

Sushil Kumar Jain, President Sector 18 Market Association and  Convener Confederation of All India Traders Delhi NCR said, “Gold demand in India is coming back to pre-COVID levels in the market. India's gold demand grew 50%  year-on-year in the July-September quarter following a strong pick-up in economic activity and improved consumer demand. This is the time to buy stocks and sell them during festivals”.

He added that “This time sales in Noida are also more likely to be more than pre-Covid-19 due to Diwali festivals as compared to previous years. This time in Noida, gold ornaments, silver jewellery coins, etc. has increased demand for customers. Looking at this indication it seems that this Diwali  Noida will have more sales than the pre-coronavirus period. If we talk about the markets of Noida, then the sale of gold jewellery is around 250 crores, the sale of electronic items is around 200 crores, the sale of garments is around 100 crores, the gift items, etc. around 200 crores,  the sale of utensils, etc. is around 50 crores.  Sale of decoration items around 50 crores and furniture etc. around  150 crores, other items sold around 250 crores. Overall, there are signs of sales around 1000 to 1200 crores”.