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Correspondent

23 August 2024 at 4:29:04 pm

Festive Surge

India’s bazaars have glittered this Diwali with the unmistakable glow of consumer confidence. The country’s festive sales crossed a staggering Rs. 6 lakh crore with goods alone accounting for Rs. 5.4 lakh crore and services contributing Rs. 65,000 crore. More remarkable still, the bulk of this spending flowed through India’s traditional markets rather than e-commerce platforms. After years of economic caution and digital dominance, Indians are once again shopping in person and buying local....

Festive Surge

India’s bazaars have glittered this Diwali with the unmistakable glow of consumer confidence. The country’s festive sales crossed a staggering Rs. 6 lakh crore with goods alone accounting for Rs. 5.4 lakh crore and services contributing Rs. 65,000 crore. More remarkable still, the bulk of this spending flowed through India’s traditional markets rather than e-commerce platforms. After years of economic caution and digital dominance, Indians are once again shopping in person and buying local. This reversal owes much to policy. The recent rationalisation of the Goods and Services Tax (GST) which trimmed rates across categories from garments to home furnishings, has given consumption a timely push. Finance Minister Nirmala Sitharaman’s September rate cuts, combined with income tax relief and easing interest rates, have strengthened household budgets just as inflation softened. The middle class, long squeezed between rising costs and stagnant wages, has found reason to spend again. Retailers report that shoppers filled their bags with everything from lab-grown diamonds and casual wear to consumer durables and décor, blurring the line between necessity and indulgence. The effect has been broad-based. According to Crisil Ratings, 40 organised apparel retailers, who together generate roughly a third of the sector’s revenue, could see growth of 13–14 percent this financial year, aided by a 200-basis-point bump from GST cuts alone. Small traders too have flourished. The Confederation of All India Traders (CAIT) estimates that 85 percent of total festive trade came from non-corporate and traditional markets, a robust comeback for brick-and-mortar retail that had been under siege from online rivals. This surge signals a subtle but significant cultural shift. The “Vocal for Local” and “Swadeshi Diwali” campaigns struck a patriotic chord, with consumers reportedly preferring Indian-made products to imported ones. Demand for Chinese goods fell sharply, while sales of Indian-manufactured products rose by a quarter over last year. For the first time in years, “buying Indian” has become both an act of economic participation and of national pride. The sectoral spread of this boom underlines its breadth. Groceries and fast-moving consumer goods accounted for 12 percent of the total, gold and jewellery 10 percent, and electronics 8 percent. Even traditionally modest categories like home furnishings, décor and confectionery recorded double-digit growth. In the smaller towns that anchor India’s consumption story, traders say stable prices and improved affordability kept registers ringing late into the festive weekend. Yet, much of this buoyancy rests on a fragile equilibrium. Inflation remains contained, and interest rates have been eased, but both could tighten again. Sustaining this spurt will require continued fiscal prudence and regulatory clarity, especially as digital commerce continues to expand its reach. Yet for now, the signs are auspicious. After years of subdued demand and inflationary unease, India’s shoppers appear to have rediscovered their appetite for consumption and their faith in domestic enterprise. The result is not only a record-breaking Diwali, but a reaffirmation of the local marketplace as the heartbeat of India’s economy.

"Preparation is prevention": Former IPS officer Kiren Bedi on mock drills


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New Delhi: Former IPS officer and former LG of Puducherry Kiren Bedi on Tuesday said that mock drills called by the Ministry of Home Affairs (MHA) across various cities in India are not a cause to "worry" about but a self-assurance that everyone is coming together.



Bedi added that people are now taking responsibility to protect themselves in different situation, adding that "preparation is prevention."



Speaking with ANI, Kiren Bedi said. "It's a cause for not to worry but it causes self-assurance and greater assurance because now we the people of India, the youth of India, the energetic of India, the healthy of India, men and women and the youth all coming together for each other. They're all coming for themselves and each other. They are taking responsibility for each other and themselves, and how to protect themselves in different situations. So, I think preparation is prevention."



Emphasising the need to be prepared at every occasion, Bedi said, "the preparation means you prevent so many disasters, and it also works in collaboration with the local police, with disaster management authorities, the NCC students, the NSS, the civil defence, the home guards, the police and all of them."



Earlier, Union Home Ministry has asked several states to conduct mock drills on May 7 to enhance Civil Defence effectiveness. The measures to be undertaken include operationalisation of Air Raid Warning Sirens and training of civilians, students, and others on Civil Defence aspects to protect themselves in the event of a hostile attack.



According to a letter written to Chief Secretaries, the Union Home Ministry said the exercise aims to assess and enhance the readiness of Civil Defence mechanisms across states and Union Territories.



The exercise is planned up to the village level. "Ministry of Home Affairs has decided to organise Civil Defence Exercise and rehearsal across 244 categorised Civil Defence Districts of the country on May 7, 2025," the letter said.



The primary objectives of the mock drill include assessing the effectiveness of air raid warning systems, operationalisation of hotline, radio communication links with IAF, testing functionality of control rooms and shadow rooms, training of civilians including students on civil defence aspects to protect themselves in the event of hostile attack and provision of crash blackout measures.



The objectives also include the provision of early camouflaging of vital installations, to verify the activation and response of Civil Defence Services including warden services, firefighting, rescue operations and depot management, assessing the implementation of crash blackout measures and evaluating the preparedness of evacuation plans and their execution.



The Home Ministry had on May 2 written to Chief Secretaries of all states and UTs about civil defence preparedness in the vulnerable areas and districts.



Twenty-six people were killed in the terror attack in Pahalgam on April 22. The government has said that perpetrators will face severe punishment.

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