Every year during Diwali, over 5 crore items are purchased for gifting purposes, as reported by traders’ body Confederation of All India Traders (CAIT) on Sunday.
CAIT Celebrating ‘Azadi Ka Amrit Mahotsav’
The traders’ body while celebrating 75 years of independence, urged people to buy souvenirs inscribed with ‘Azadi Ka Amrit Mahotsav’ and said “CAIT through its more than 40,000 affiliate associations will connect with craftsman, potters, karigars, startups, small industries and others to design and produce a variety of quality products at affordable prices for everyone to buy”.
CAIT added in a statement that “These products may include pen stands, pens, card holders, mobile covers, tie-pin, hand-cliffs, mobile chargers, tea and coffee mugs, contemporary paintings, flower pots, flower vases, etc,”.
For the awareness of its campaign across all sectors, BC Bhartia and Praveen Khandelwal said the association is connecting with national bodies of transporters, consumers, small industries, women entrepreneurs, state-level chambers, district associations, and city associations, among others.
Souvenir Celebration, More Spending This Season, Chinese Goods Boycott Campaign
Bhartia and Khandelwal said that the move is part of the year-long campaign till August 15, 2023, to promote souvenirs celebrating the independence by the Ministry of Culture for which the latter is engaged in an outreach program with national associations of trade and industry and of other verticals of the economy.
The CAIT has asked traders to stock up on goods for the upcoming festive season. Online market research company YouGov reports that nearly 36% of urban shoppers plan to spend more than they did last season.
There will be an increase in sales in the following sectors during this festive season: home appliances, travel, health and fitness, home decor, and gold. Amid the campaign to boycott Chinese goods, as much as Rs 2.5 crore sales are expected this Diwali season by the association.
It is estimated that the boycott Chinese goods campaign will lead to a loss of approximately Rs 75,000 crore in business.