The demand for Chinese products in the Indian market has continued to decline during the Diwali and Dentra festivals in the past few years. In particular, sales of decorations dropped significantly compared with the previous period. Sales of domestic goods increased as demand was low and imports fell.
In fact, the effects of Prime Minister Narendra Modi’s ‘Voice for Local’ campaign are now being felt in the country. Sales of Chinese goods continue to decline. This year, most people will be shopping for local products on Diwali. Especially people buy electronics and décor items after seeing “Made in India”.
Oppose Chinese products
It is estimated that China is facing a loss of about Rs 100,000 to Rs 25 crore due to a sharp drop in sales of Diwali-related Chinese goods. Because Chinese products have been boycotted on Diwali for years. By buying earthen lamps and decorations from potters, people are helping to deliver a “Voice for Local” campaign.
CAIT urges business organizations across the country to help increase sales to women, potters, artisans and others in the region who produce Diwali-related goods. This has increased awareness among people and now they prefer domestic products. China suffered a loss of approximately 1.25 billion rupees as a result.
The Confederation of All India Traders (CAIT), a traders’ organization, has called on traders to promote local products. CAT general secretary and Chandni Chowk MP Praveen Khandelwal said that this Diwali, the concept of “vocal for local” is seen everywhere in the market as almost all purchases are of Indian goods.
Buy gold and silver in bulk
Let us tell you that as per Indian tradition, Diwali and Dhantras involve a lot of shopping. Especially on this day, people buy gold, silver jewelry and other items, various appliances, kitchen items, vehicles, clothes and ready-made garments, electronic products, electrical products and equipment, business equipment such as computers and computer-related equipment, buy mobile phones, Ledgers and furniture.
According to estimates by the Confederation of All India Traders (CAT), the business volume of Dhanteras is expected to be around Rs 60,000 this year. By Diwali, this number will cross Rs 100 crore. During this period, in addition to gold and silver, vessels made of brass were purchased in large quantities. The silver purchased is worth approximately Rs 2,500 crore. And gold worth Rs 20,000 was sold within a day.