9 Nov 2023

Consumers show preference for made in India products as Diwali festivities kick off: how much China will lose?

As the Diwali celebrations commence, Dhanteras stands out as a crucial day for traders across the nation, with an anticipated trade volume of Rs 50,000 crore, as projected by BC Bhartia, the National President of the Confederation of All India Traders (CAIT), and Praveen Khandelwal, the Secretary General.

People urged to support women entrepreneurs

In a recent post on X, Praveen Khandelwal encouraged people to support women entrepreneurs, echoing the call of Prime Minister Shri @narendramodi for a #VocalForLocal Diwali and Union Minister Smt. @smritiirani's appeal for #NaariSeKharidaari. 

Khandelwal stated, "We have the full backing of 9 crore businessmen @CAIT India across the country, providing a platform for women entrepreneurs, from those crafting small diyas to those managing boutiques. I urge you to shop from these women and visit their establishments."

China may incur a loss of about Rs 1 lakh crore

The 'Vocal for Local' movement gains momentum, with consumers displaying a strong preference for products made in India.

China is expected to incur a loss of approximately Rs 1 lakh crore in business related to Diwali festival items. 

Dhanteras, a day dedicated to worshiping Siddhi Vinayak Ganesh Ji, Goddess of Wealth Mahalakshmi Ji, and Kuber Ji, holds great significance for new purchases. Gold and silver jewelry, utensils, kitchenware, vehicles, clothing, electronics, and more witness robust sales, with the purchase of brooms being particularly auspicious.

Jewelers anticipate surge in demand

Pankaj Arora, the National President of the All India Jewelers and Goldsmith Federation (AIJGF), expresses the excitement among jewelry traders for the Dhanteras sale. They have announced ample stock, including new designs in gold, silver, and diamond jewelry, in anticipation of a surge in demand.

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