early times report
Jammu, Oct 22: Bharatiya Janata Party (BJP) leader Rohiin Chandan proudly stated that India’s retail sector has achieved a historic milestone, recording unprecedented sales of ₹6.05 lakh crore during this year’s Diwali festival, a remarkable 25% increase from the previous year. This surge, comprising ₹5.40 lakh crore in goods and ₹65,000 crore in services, underscores the nation’s robust economic momentum and the resounding success of the ‘Vocal for Local’ initiative championed by PM Narendra Modi. “Those who call India a ‘dead economy,’ look at this: the people of India have spent ₹5.40 lakh crore on goods alone during the Diwali festival, surpassing Pakistan’s entire annual budget and the total GDP of 86 countries. This is a testament to India’s economic vibrancy under the BJP-led governance and the growing preference for ‘Made in India’ products.”
This shift, driven by Prime Minister Narendra Modi's "Vocal for Local" and "Swadeshi Diwali" campaigns, led to a steep decline in demand for Chinese imports. Chandan hailed Modi as a "brand ambassador" for GST reform and indigenous enterprise.
He highlights that this festive season, India's economy sparkled with the creation of 50 lakh temporary jobs, primarily in logistics and retail. Rural and semi-urban regions accounted for 28% of total sales, reflecting robust market penetration and the enduring strength of India's nine crore small businesses, powering a vibrant festive economy.
Chandan noted that the record-breaking sales reflect a significant shift in consumer behavior, with Indians increasingly favoring Har Ghar Swadeshi products over imported alternatives. This festive season, Chinese goods reportedly lost over ₹1 lakh crore in trade, as consumers embraced Indian-made products across multiple sectors, including food and grocery, textiles, jewelry, electronics, and automobiles. The ‘Vocal for Local’ push has not only bolstered domestic industries but also empowered Micro, Small, and Medium Enterprises (MSMEs), which played a pivotal role in meeting the festive demand, and local manufacturers are benefiting from robust support from GST, boosting economic growth and attracting Indian-made products, a trend that has been bolstered by the country's robust domestic market. Chandan emphasized, “The mantra of Swadeshi, inspired by PM Modi, has resonated deeply with the people of India. This Diwali, the nation has celebrated not only with joy but also with pride in our indigenous products. The ₹6.05 lakh crore sales figure is a powerful statement of India’s economic resilience and self-reliance.”
He asserted that as India continues to embrace the ‘Vocal for Local’ ethos, this festive season’s success sets a strong precedent for future growth, reinforcing the country’s position as a global economic powerhouse. The government remains committed to fostering an ecosystem that supports local industries, encourages innovation, and empowers Indian businesses to compete on a global stage.
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