China Stares At Loss Of Rs 1 Lakh Crore As 'Vocal For Local' Gains Momentum This Diwali

The resonance of the 'Vocal for Local' movement is also looking clear from consumers' strong preference for Indian-made products, as reported by The Economic Times.

According to an ANI report, China is expected to incur a significant loss of around Rs 1 lakh crore in Diwali-related business.

As the Diwali festive season begins, Dhanteras has been highlighted as an important day for traders across the country, with the estimated trading volume expected to rise as per predictions by Confederation of All India Traders (CAIT) national president BC Bhatia and general secretary Praveen Khandelwal who estimates it to reach around Rs 50,000 crore.

Khandelwal in a post on X stated, "We wholeheartedly support Prime Minister Shri @narendramodi ji's call for #VocalForLocal this Diwali, along with the appeal #NaariSeKharidaari by Union Minister Smt. @smritiirji."

In the same post he added, "We are opening the doors of the nation's market to all women entrepreneurs, from those crafting small diyas to those managing boutiques. We urge you to shop from women entrepreneurs and visit their establishments."