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Rakhi traders peg biz at half against last yr | Indore News

Indore: A sudden spike in coronavirus cases in the last few weeks and fresh lockdown in many states have heavily weighed down on the Rakhi market with revenues apprehended to drop to half, claimed traders.
Traders have ordered almost half the stocks this season as against previous year amid slackened demand from retailers and smaller towns while shortage of workers has also affected the production of designer rakhis at major manufacturing centres of the country.
Indore is a major trade centre of Madhya Pradesh that supplies rakhis to most cities and rural areas of the state.
A wholesaler rakhi delaer Sanjay Choudhary said, “Business is just 50 per cent this season. Traders are still concerned and hesitant to do business because of a lot of uncertainty over lockdown. Many states have again imposed lockdown and this has created a lot of concerns among traders.”
Traders said business this season looks down by over 50 per cent because customers are still afraid of coming out and traders are not able to operate in a full-fledged manner amid concerns over restrictions from district administration.
Rakhi will be celebrated on August 3.
Rakhi economy gives employment to over 30,000 people directly and indirectly, claimed rakhi traders. They said usually production and stocking of rakhi inventories start from March but due to Covid-19 induced lockdown, production and transportation have taken a sharp hit.
A rakhi trader Rohit Sharma said, “Looking at the current market scenario, we are focusing on clearing the old stocks. We have not placed many fresh orders. Availability of new designs has also reduced because of shortage of workers employed in making rakhis.”
Kolkata, Delhi, Mumbai and Ahmedabad are major trading centres to get supplies for Rakhi, said traders of Ranipura market, a hub for wholesalers and semi-wholesalers of rakhi. There are close to 50 shops dealing in rakhis at Ranipura.
Another rakhi dealer Arvind Jain said, “From Monday, we anticipate business to pick up because retailers will now purchase from wholesalers and set up temporary shops.”

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