This year, on Navratri, India’s major producers and retailers saw the most sales in their ten years of history. The main reason behind this was the reduction in the rates of Goods and Services Tax (GST) and a decrease in the prices of products, which increased the desire to purchase people. This change has brought enthusiasm to a new height in this first part of the festive season and has also strengthened the shopping atmosphere before Diwali.
Car sales boom
A big car manufacturer like Maruti Suzuki spoke of doubling the sale of its cars in Navratri. During this Navratri, more than 7 lakh customers came for questioning and more than 1.5 lakh cars were booked. This is a much larger figure than last year, when he sold 85000 cars in Navratri. Companies like Mahindra and Hyundai have also registered a huge increase in sales in this festive season. Especially Hyundai’s SUV models Creta and Venue have increased their demand in the market.
Electronics sales surge
Consumer electronics also saw a tremendous jump in sales. Big brands like LG, Higher and Godrej increased sales from 20% to 85% in this Navratri compared to last year. Higher India made a good sale of TV and other home appliances with big -screen TVs priced more than ₹ 2.5 lakh. The reason for all this was the recent cuts in GST rates and additional offers made by companies to customers.
GST rate cut effect
The government had reduced the rate of GST on many essential commodities at the end of September, which reduced the prices of products. Companies took advantage of this deduction directly to the customers, causing speed in purchases. Maruti Suzuki’s marketing chief said that booking of small cars, SUVs and multipurpose vehicles has increased by 50% this year. At the same time, retail companies like Reliance Retail and Vijay Sales have also seen a 20% to 25% increase in their sales in this Navratri.