Diwali brings no cheers for traders of Vijayawada
Traders in Vijayawada are in deep distress due to drastic fall of trading activity during this festival season.
Vijayawada: Traders in Vijayawada are in deep distress due to drastic fall of trading activity during this festival season. The traders claim that there has been a steep fall in retail sales.
Dasara is the most important festival for the people of Vijayawada. People celebrate the festival with great fervour and buy clothes, footwear, jewellery, electronic goods, mobile gadgets and many other products. But, this year, the festival atmosphere was not visible anywhere in the city. Though Diwali is also fast approaching the retail trade has not picked up yet.
K Rajesh a textile trader at the Lenin Centre said he had purchased stocks worth Rs.1 lakh this festival season with a hope of doing brisk business. But he is totally upset with the poor response from the public. "I sold only 20 per cent of the new stocks this festival season," he lamented.
Vijayawada is one of the biggest markets in the state for textiles and readymade garments. About 800 wholesale and retail textile shops are in the city. Almost all shops have no business this festival season.
The government is collecting five percent GST on the cloth and 12 percent on the readymade clothes, which costs over Rs.1000, said N Hari, manager of Chandana showroom at Lenin centre.
The GST is five percent on readymade garments which is below Rs.1000. Chandana showroom is one of the biggest and oldest showrooms in the city. The management said the showroom has to pay salaries to more than 70 staff, pay electricity bill, Income Tax and GST and has to meet many other expenses. Nearly 10 mega shopping malls in the city are also facing the same situation because there is no trading activity.
Gold and jewellery traders are also facing many hardships due to fluctuations in the prices. J Naveen, a jewellery trader in Beasant Road said this was the most disappointing festival season in recent years.
Electronics showrooms are no exception. Online trading with huge offers by Amazon in its Mega sale and other such portals also had its negative impact on their sales, they lament. The traders said that future looks bleak unless money circulation improves.