In recent years, the demand for Chinese products in Indian markets during Diwali and Dhanteras has been continuously declining. Especially sales of decoration items have decreased significantly compared to before. Due to low demand, imports are also decreasing, so sales of domestic goods are increasing.
In fact, the effect of Prime Minister Narendra Modi’s ‘Vocal for Local’ campaign is now visible in the country. Sales of Chinese products are continually declining. This year most people are seen buying indigenous products on Diwali. Especially people buy electronics and decoration items only after seeing “Made in India”.
Opposition to Chinese products
According to an estimate, China is facing a loss of about Rs 1 lakh 25 billion due to sharp decline in sales of Diwali-related Chinese products. Because Chinese products have been boycotted during Diwali for many years. By purchasing clay lamps and decorative items from potters, people help carry out the “Vocal for Local” campaign.
CAIT has urged business organizations across the country to help increase sales of women, potters, artisans and others in their area who make Diwali-related products. This has increased awareness among people, who now give preference to domestic products. Due to which China has suffered a loss of around Rs 1.25 lakh crore.
The Confederation of All India Traders (CAIT), which is an organization of traders, has appealed to traders to promote local products. CAT general secretary and Chandni Chowk MP Praveen Khandelwal said that this Diwali, the philosophy of ‘Vocal for Local’ is fully visible in the markets because almost all purchases are of Indian products.
strong purchases of gold and silver
Let us tell you that according to Indian tradition, a lot of shopping is done on Diwali and Dhanteras. Especially on this day, people buy gold and silver jewelry and other items, all types of utensils, kitchen items, vehicles, ready-made clothes and garments, electronics, electrical items and equipment, business equipment like computers and computer related equipment , purchase of mobile phones, accounting books. and furniture.
According to the Confederation of Indian Traders (CAT), it is estimated that business worth Rs 60,000 crore will be done on Dhanteras this year. While for Diwali this figure will exceed one million rupees. During this period, in addition to gold and silver, enormous brass utensils were purchased. This time silver worth Rs 2,500 crore was purchased. While in one day gold worth 20,000 million rupees was sold.
