“Vocal For Local Triumphs: Deepawali trade soars to Rs 3.75 lakh crore, China’s market dips by over Rs 1 Lakh crore”, Organiser, November 14, 2023:
“As the festive season continues with Goverdhan Pooja, Bhaiya Dooj, Chhath Pooja, and Tulsi Vivah still ahead, an additional trade worth Rs 50 thousand crores is anticipated. The surge in local trade underscores the growing support for indigenous products and highlights the economic impact of prioritising local businesses. The unprecedented success of the Deepawali trade is indicative of a paradigm shift in consumer preferences, with a clear preference for homegrown goods.
A significant element of this festive season was the overwhelming reliance on Indian-made products, replacing the previous stronghold of Chinese goods. In a joint statement, CAIT’s National President,BC Bhartia, and Secretary General, Praveen Khandelwal, said, “Chinese goods lost a trade of worth more than 1 lakh crore.
In previous years, Chinese products occupied nearly 70 per cent market of Diwali festivals. However, this year, the appeal of Prime Minister Narendra Modi to make this Diwali vocal for locals has gone down well and is widely accepted and implemented by both traders and consumers…..”
Read the full article at Organiser.org
