New Delhi. This year, on the occasion of Diwali and Dhanteras, there is a huge decline in the demand for Chinese products in the Indian markets across the country. Especially the sales of decorating items have decreased significantly compared to earlier. The impact of Prime Minister Narendra Modi’s ‘Vocal for Local’ campaign is now clearly visible in the markets. People seem to be giving preference to indigenous goods instead of foreign products, due to which the sales of domestic products are increasing.
Boycott of Chinese products
According to estimates made by various organizations, China may suffer a loss of about Rs 1 lakh 25 thousand crore due to low sales of Chinese products during Diwali. Chinese products are being boycotted on Diwali for many years, and this time too this trend has been seen. People are strongly supporting the ‘Vocal for Local’ campaign by purchasing earthen lamps and indigenous decorative items from potters. The Confederation of All India Traders (CAIT) has requested trade organizations across the country to promote artisans, potters and women making Diwali related items, so that their income can increase. CAT General Secretary and Chandni Chowk MP Praveen Khandelwal said that this time the effect of ‘Vocal for Local’ is clearly visible in the markets, because people are buying only Made in India products.
This Diwali, Indians are shifting from Chinese products to ‘Made in India.’ By choosing clay lamps and local decor, let’s support #VocalForLocal and boost our local businesses #Diwali2024 #MadeInIndia #BoycottChineseProducts
— The Fact Check Media (@thefactcheck_) October 30, 2024
Boom in buying of gold and silver
Shopping on Diwali and Dhanteras has special significance in Indian tradition. On this occasion, people buy things like gold and silver jewellery, utensils, kitchen items, vehicles, clothes, electronic devices, mobiles, ledgers and furniture. According to CAT, this year the business on Dhanteras is estimated to be around Rs 60 thousand crore, which may cross Rs 1 lakh crore by Diwali. There has also been a tremendous increase in the sale of gold, silver and brass utensils on the day of Dhanteras. This time around Rs 2500 crore worth of silver and Rs 20 thousand crore worth of gold have been sold in a single day. This time, the glory of ‘Made in India’ products is visible in the Indian markets.
