Holi brought a surge of vitality to the market as people indulged in extensive shopping, marking the festival of colours with grand celebrations. According to a survey conducted by the traders' organization, purchases totalling more than Rs 50 thousand crore were made to commemorate holi 2024, with expectations of further increase.
Notably, the impact of prime minister Narendra Modi's Vocal for local initiative was conspicuous, as consumers exhibited a noticeable preference for locally made products over Chinese imports. The Confederation of All india Traders (CAIT) survey unveiled the market's revival during holi, with both businesses and the public lending robust support to the mission of Atmanirbhar Bharat.
CAT data revealed a notable decline in the sale of Chinese goods during holi, indicating a shift in consumer sentiment away from products originating from China. In the national capital Delhi alone, business transactions surpassed Rs 5000 crore. CAT's National General Secretary, praveen Khandelwal, highlighted the evolving consumer mindset, attributing it to the unfavourable sentiment towards Chinese goods following the 2020 Galwan Valley clash.
The shift in consumer behaviour, once focused solely on the affordability of Chinese products, now emphasizes a conscious boycott of these imports, evident in the trends observed during holi shopping. CAT echoes the sentiment of freeing india from dependence on Chinese goods.
Prime minister Modi extended his holi greetings to the nation via social media, urging citizens to celebrate the festival with love and harmony. He expressed hope that holi would infuse renewed energy and enthusiasm into the lives of all. Across the country, people participated in Holika Dahan ceremonies on sunday night, marking the onset of holi festivities.
