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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.

The fire fighter!

Updated: Nov 7, 2024

Vinod Tawde

BJP National General Secretary Vinod Tawde, who had always been known as the ‘fire fighter’ since his days as organization secretary in the ABVP, has successfully mediated and persuaded several rebels to withdraw their nominations against the BJP or Mahayuti nominees.


Tawde’s organizational as well as enterprising abilities have received praise even from his political opponents. The then DCM Ajit Pawar’s welcome speech in the legislature when Tawde became the leader of opposition in 2011 was full of praise for all such qualities of Tawde.


Born on July 20, 1963, Tawde completed his secondary education at St. Anthonia High School, Santacruz, and his higher secondary education at Parle College, Vile Parle in Mumbai and then pursued a vocational course from Dnyaneshwar Vidyapeeth in Pune while he was an ABVP activist. His impeccable organizational skills saw him quickly rise through the ranks to become the Secretary-General of ABVP in 1988 and later the National Secretary in 1993.


In 1995, Tawde was appointed as the General Secretary of the BJP’s Maharashtra unit, a position he held until 1999 and again from 2002 to 2011. In 1999, he became the President of the Mumbai City Unit of the BJP, making him the youngest person to hold this position.


Tawde served in various legislative capacities. He was a member of the Maharashtra Legislative Council from 2008 to 2014 and served as the Leader of Opposition in the Maharashtra Legislative Council from 2011 to 2014. In 2014, he was elected to the Maharashtra Legislative Assembly from the Borivali constituency.


He also held several key ministerial positions in the Maharashtra government between 2014 and 2019, including the Minister for School Education, Higher and Technical Education, Sports and Youth Welfare, Minority Development, and Marathi Language and Culture. His tenure was marked by efforts to improve the education system and promote Marathi culture.


He is married to Varsha Pawar Tawde, a social worker and writer. The couple has a daughter named Anvee Tawde. Tawde’s family has a strong connection to the RSS, with his father, Shreedhar Ramchandra Tawde, being a member of the organization.


Since November 2021, Tawde is serving the party as the National General Secretary, a testament to his enduring influence and leadership within the party.


Vinod Tawde’s journey from a student activist to a senior leader in one of India’s major political parties highlights his dedication and resilience. His contributions to education and cultural affairs in Maharashtra have left a lasting impact, and his role in the BJP continues to shape the political landscape of India.

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