Indians went Vocal for Local this Diwali season. People across the country purchased products worth Rs 1.25 trillion during Diwali, breaking a 10-year record, informed the Confederation of All India Traders (CAIT).
Retailers all over India have had decade-high sales which is a sign of resilient demand even as inflation remains high.
“In Delhi alone, the business was about Rs 25,000 crore,” informed CAIT, which represents about 70 million traders of India. The Association stated that the tremendous sales response came as a much-needed breather for retailers who have faced a slowdown for the past two years due to COVID19.
Diwali 2021 a booster for Indian Economy
CAIT says that the consumers preferred Indian goods this Diwali, leading to a direct loss of over Rs 50,000 crore of business to Chinese exporters.
Several traditional Diwali items were hugely in demand this season, such as earthen lamps, candles, paper mache lamps, etc. The sale of such items helped small potters, craftsmen, and handicraftsmen gain notable profits.
In addition to this, Sweets, dry fruits, footwear, watches, toys, home décor, and fashion clothing also saw huge demand. CAIT stated that “Consumers spent more than Rs 9,000 crore on gold jewellery and silverware and nearly Rs 15,000 crore on packaging materials.”
The analysis of CAIT is widely based on a survey conducted in 20 cities, mainly, New Delhi, Ahmedabad, Mumbai, Nagpur, Jaipur, Lucknow, Chandigarh, Bhopal, Jammu, etc.
Vocal for Local
Prime Minister Narendra Modi in his many speeches has said that the mindset of free India should be ‘vocal for local’ to achieve the goal of ‘Atma Nirbhar Bharat.’
Vocal for Local has become one of the most accepted initiatives as it resonates with every traditional fibre of India in terms of indigenous goods and produces.
The slogan “Vocal4Local” emerged during the COVID-19 pandemic, however, the idea behind this movement can be traced back to the Swadeshi movement which was popularised in 1905 during the Indian independence struggle.
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