Firecracker traders exploit Diwali shoppers with inflated prices, false labelling
By : Vadrevu Srinivas
Update: 2024-11-01 17:27 GMT
Kakinada: Large firecracker traders, who invested substantial funds this Diwali, reportedly made huge profits by inflating prices, using misleading labels, and offering discounts of 70-75 per cent. This strategy forced smaller traders to resort to distress sales on Thursday, clearing their stock at reduced prices. Influential traders, some with political backing, allegedly used false labels to hike prices. For example, a box of flower pots, typically priced at `936, was marked at an inflated `4,056 in shops near Bhanugudi, Main Road, and other Diwali markets in Kakinada.