Forget Recession, Celebrate Diwali Dilli Ishtyle!

Diwali is not only about festivities but also about spiritual and religious significances. It revolves primarily around the worship of Goddess Lakshmi (Goddess of wealth) and Lord Ganesha (God of prosperity), Goddess Kali (Goddess of death) and Lord Chitragupta (God of karma). The festival has a special significance for the business community as they consider this day perfect to launch their new financial year.Some people also indulge in gambling on the day of Diwali because it is a believed that the wife of the God Shiva (Parvati), played dice with him on this day and thus all those who gamble on this auspicious day are blessed with prosperity throughout the year.

The crash in the share market has made people very cautious about splurging on luxury goods. Security is also one of the reasons for slow business.'' Agreed Gurjeet Singh: "The usual gift hampers are also not selling. We are now stocking less.'' Said a shopper at South Extension, Lucky Singh: "My wife and I were advised against stepping out of our houses by our families due to security concerns. But, this being our first Diwali, we decided to celebrate it like every year by shopping for new clothes and buying necessary items for the festive season.'' With Dhanteras on Sunday, shopkeepers still hope for their business to pick up slightly

Think differently; think innovatively, that’s what the funda for exclusive gifting is all about this Diwali. Traditional gift items like dry fruit boxes, glass crockery, quilts and blankets are a big no. So try out these exciting new options and experience the change. "This year the market is flooded with inexpensive yet stupendous Chinese and Italian crockery. As the dry fruit prices are shooting up so the better option is to stuff these crockery sets with Italian toffees. Then here is another very good alternative to those age-old dry fruit box, the same are available covered in caramel. Though they are expensive they exude class," asserts Research Analyst Anubhav.

Heavy police presence was seen in many of the local market areas. Said Rekha Sinha, who was shopping at Madhu Vihar on Saturday evening: "By evening, people had started venturing out of their homes to buy diyas and other decoration items and there was a lot of police in the markets.

EAST DELHI Mela melee Preet Vihar Diwali Mela Samiti is in its sixth year of organising Diwali Mela. They began organising the event in 2003 as no such melas were happening then in this part of Delhi and people from East Delhi had to go to other places in Delhi to make merry at Diwali melas. A group of 40-50 people joined hands to give East Delhites their own mela. This year the event will be held on October 18-19 behind Preet Vihar petrol pump. It will start at 6 pm and go on till 11.00 pm. There will be various food stalls offering Rajasthani, Awadhi and some lip-smacking Old Delhi dishes. Virendra Aggarwal, a member of the Samiti, says: "Here one can hog on a host of dishes that include paneer tikka, Nandlal ke chole bhature, daal-baati, dal makhni, famous Kure Mal ki kulfi, Benares ki gilori, Lucknow ke vegetable kebabs, gol gappe and much more.

Most of the Capital's main market areas recorded 50% less footfalls on Saturday even with Diwali just two days away. In markets like Lajpat Nagar, Sarojini Nagar, Karol Bagh, South Extension, Chandni Chowk etc shopkeepers claimed nobody was buying due to the recent share market meltdown. Moreover, security concerns also refrained shoppers from heading to crowded market areas. The crowd at the city's markets was the same as seen on any other weekend.

Most shops were empty and only the decorations put up by traders' associations were a reminder of the fact that Diwali is round the corner. Said Sanjay Bharghav, owner of a ready-made garments shop at Chandni Chowk: "The festive season has been very dull. In fact, it doesn't even feel like Diwali is approaching. The garment shops have been the worst hit. No one is buying gifts. Even the eateries in Chandni Chowk are hardly crowded.'' According to shopkeepers though, security which was lax on Friday had been stepped up by Saturday. The police officers were even checking shopping bags.'' With most bomb blasts having taken place on a Saturday, market places which have witnessed blasts in the past saw even lesser footfalls as compared to others. Said a shopkeeper in Sarojini Nagar: "Business has been badly hit this festive season. As most of the blasts happened on a Saturday, very few people actually came out to shop, especially in market areas like Sarojini Nagar where blasts have taken place in the past.'' Said an employee of Classik electronics in Lajpat Nagar: "Hardly any electronic goods have been purchased even though Diwali is coming up. Gold, too, had seemed beyond reach with its price breaching the Rs 13,500 mark, so when the price fell, people headed out in droves to buy as much as they could afford. The rush is not just because of Dhanteras, but also because gold seems to be the best investment in the current climate. The MMTC office in Scope complex was buzzing with people. MMTC sold 24 kilo bars of gold in one day. Chief general manger, publicity, MMTC, Preeti Kaur said, “The madness is always there before Dhanteras and Diwali, but this year due to the sudden price fall, people are going mad over buying gold and silver medallions, jewellery and silverware.”

Golden daysRahul Gupta, MD, P.P. Jewellers, said, “The price of gold has fallen from 12,200 to 10,900. Sentiments are positive and people are coming out and buying jewellery and gold for the festive season.” The slump in the market and the high gold price had so far been a deterrent to festival-driven sales, but now the picture is much brighter. “The gold fever has caught on,” said PC Jewellers MD Balram Garg. “If we had 10 customers coming earlier, we have 100 coming now. The market has picked up.” Festive cheerPeople who regularly indulge in buying and selling of gold made a neat profit when the price of gold hit Rs 13,800. Now they are buying with a vengeance waiting to hit jackpot again. Abhishek Jain, director of Leela Jewellers, said, “Everyone is aware that the low price of the gold is not permanent; it will increase again. So they are playing safe and buying gold. Also, from investing in the share markets, they have shifted their focus to the bullion market.” “I’ve been waiting for the gold price to come down to a point where I could afford it!” said Ivy, a writer, talking of her Dhanteras shopping plans. “I’ll buy now before it goes up again.” Sangeeta Bohra, who had been shopping for her daughter’s wedding in December, had so far not been happy with the high price of gold. But the recent price drop has put the smile back on her face. Back from a shopping spree, she said, “I’m ensuring that I buy enough so that I don’t get stuck again if and when prices rise. I’ve even bought gold bars — if I need to, I can turn them into jewellery.”

. Only jewellers seem to be smiling all the way. The sale of gold has been more or less the same this Diwali. As the news spread that the price of gold has fallen by a couple of thousand rupees, people started making a beeline to buy the yellow metal, giving a boost to Dhanteras shopping. It seems to be the only warm thing in an otherwise thanda Diwali this year. The economic slump and the resulting weak bonuses have dampened the festive spirit this year. The fact that just days before Diwali, Delhi roads were not jammed with cars packed with Diwali gifts was proof that everyone was feeling the pinch.