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Vocal for local movement hits China's Diwali trade hard
The Business Guardian
|November 10, 2023
As Diwali festivities kick off, Dhanteras emerges as a pivotal day for traders nationwide, with an estimated trade volume of Rs 50 thousand crore, as predicted by the National President of the Confederation of All India Traders (CAIT), BC Bhartia, and Secretary General Praveen Khandelwal.
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In a recent post on social media, Praveen Khandelwal urged the public to support women entrepreneurs, aligning with the ‘Vocal for Local’ movement endorsed by Prime Minister Narendra Modi and Union Minister Smriti Irani. The resonance of this movement is evident as consumers show a strong preference for Indian-made products, causing an anticipated loss of around Rs 1 lakh crore for China in Diwali-related business.
Dhanteras, dedicated to worshiping Siddhi Vinayak Ganesh, the Goddess of Wealth Mahalakshmi, and Kuber, holds special significance for new acquisitions. Robust sales are witnessed in gold and silver jewellery, utensils, kitchenware, vehicles, clothing, electronics, and more. Brooms, considered especially auspicious on this occasion, also see increased purchases.
This story is from the November 10, 2023 edition of The Business Guardian.
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