Diwali rush in the city markets on Tuesday
Industry representatives said bonuses ranging from Rs15,000 to Rs1.25 lakh have been given this year, boosting consumer spending across sectors such as automobiles, garments, gold, electrical and electronic goods, home appliances and real estate. The industries have also offered good bonuses to their workers, ranging from Rs 15,000 to Rs 1.25 lakh, which will further boost the markets and the city’s economy,” Nahar said. Nahar estimated that around Rs500 crore would be disbursed as Diwali bonuses to nearly one lakh workers employed in more than 3,500 industrial units in the Satpur and Ambad MIDC estates within Nashik Municipal Corporation (NMC) limits. Naresh Parakh, president of the Nashik Retail Cloth Merchants’ Association, said customer footfall at garment stores across the city had increased since Nov 1, following the disbursal of Diwali bonuses.
Ashish Nahar, president of the Nashik Industries and Manufacturers Association (NIMA), said, “All sectors, from automobiles to electrical and electronics, have good order books, and industries are making efforts to complete their orders on time. Nashik : Festive shopping has gained momentum across Nashik city, with heavy footfall in markets ahead of Diwali as industry bonuses have increased the purchasing power of workers. The impact was visible across the city’s traditional shopping hubs, including Main Road, MG Road, Shalimar, Saraf Bazaar, Kapada Market and Raviwar Karanja.
In major commercial areas on Tuesday evening, shoppers flocked to markets to buy clothes, lanterns, diyas, decorative items, sweets, dry fruits, gift articles and household essentials.
Because of inflation, however, people are cautious about spending. You Can Also Check: Gold Rate in Nashik | Silver Rate in Nashik | Bank Holidays in Nashik | Public Holidays in Nashik | Petrol Price in Nashik | Diesel Price in Nashik | CNG Price in Nashik | LPG Price in Nashik Stay updated with the latest Nashik news.
it may be lower than what we witnessed last year,” Parakh said Although we expect good business during Diwali. Sachin Mahajan, president of the Maharashtra unit of the Federation of Automobile Dealers Associations (FADA) said said that competitive prices and festive offers from automobile dealers are supporting festive vehicle sales. This year, Diwali bonus disbursal to industrial workers is a major factor driving market demand,” said Mahajan. He added that a notable shift was visible in consumer behaviour and said, “Earlier, customers would visit dealerships, check vehicles and take some time before making their bookings.
“The market rush has increased since Sunday. “The bonus encourages customers to upgrade or replace their existing vehicles. However, consumers now book vehicles on their very first visit. Download the TOI App.