'Vocal for Local': China anticipates losing Rs 1 lakh crore in Diwali trade

As the Diwali festivities kick off, Dhanteras emerges as a pivotal day for traders nationwide, with an estimated trade volume of Rs 50 thousand crore, predicts the national president of the Confederation of All India Traders (CAIT), BC Bhartia, and secretary general Praveen Khandelwal.

In his post on X, Praveen Khandelwal called on the people to patronise various women entrepreneurs.

"Full support of 9 crore businessmen @CAITIndia of the country in the call of Prime Minister Shri @narendramodi ji this Diwali #VocalForLocal and the appeal #NaariSeKharidaari of Union Minister Smt. @smritiirani ji. We are providing the country's market to all the women entrepreneurs, from small diyas to those running boutiques. You too should shop from women and visit their homes too" Khandelwal said.

The call for 'Vocal for Local' reverberates, with consumers showcasing a strong preference for Made in India products.

China is poised to lose around Rs 1 lakh crore in business related to Diwali festival items.

Dhanteras, dedicated to worshipping Siddhi Vinayak Ganesh Ji, Goddess of Wealth Mahalakshmi Ji, and Kuber Ji, marks an auspicious day for new purchases.

Gold and silver jewellery, utensils, kitchenware, vehicles, clothing, electronics, and more witness substantial sales.

Notably, the purchase of brooms is considered particularly auspicious.

Pankaj Arora, national president of the All India Jewelers and Goldsmith Federation (AIJGF), expresses enthusiasm among jewellery traders for the Dhanteras sale.

Ample stock, including new designs in gold, silver, and diamond jewellery have been announced as traders anticipate a surge in demand.

Artificial jewellery also sees significant interest this year, alongside substantial purchases of gold and silver coins, notes, and idols.

In Delhi, major shopping hubs such as Chandni Chowk, Dariba Kalan, Sadar Bazar, and more are expected to experience a significant boost in sales.

Retail markets, including Yusuf Sarai, Lajpat Nagar, and Shahdara, contribute substantially to the festive shopping extravaganza.

CAIT's Vedic and Astrology Committee Convenor, Acharya Durgesh Tare, highlights the significance of Dhanteras, celebrated nationwide on November 10.

Lord Dhanvantari's appearance on this day, an incarnation of Lord Vishnu and the god of medicine, holds cultural and spiritual importance, marking the initiation of Ayurveda in India.