Most wholesale markets in Gujarat witnessed heavy buying during Diwali from buyers across the country. Textile markets in Ahmedabad and Surat had remained completely closed for almost three months. As a result, textile traders faced acute liquidity crisis as most of their stock remained unsold. They witnessed almost zero demand till August end but from September the market started improving gradually.

The Diwali season came as a blessing for traders as they witnessed heavy demand during the festivities. Many traders recovered their payments ahead of Diwali. Items like rayon fabric are being sold in cash, which is an encouraging sign for the textile sector in Gujarat, says Gaurag Bhagat, President, New Cloth Market and Member, Gujarat Chamber of Commerce and Industry (GCCI)

Almost 90 per cent of the over 300 wholesale textile markets in Surat have started functioning, informs Dev Kishan Mangani, Chairman-Textile Committee, South Gujarat Chamber of Commerce and Industry (SGCCI)

Mangani expects buying to continue post Diwali in the wake of marriage season as well as Pongal and Christmas festivities. However, everything depends upon COVID-19 situation in Gujarat as well as other parts of the country, he says.