Amid the “Vocal for Local” campaign gaining momentum, China anticipates a significant loss in Diwali trade worth around Rs 1 lakh crore. The campaign encourages consumers to prioritize locally-made products, supporting indigenous industries and contributing to the country’s economic growth.
As consumers increasingly show interest in locally-produced goods, there is a growing trend to choose indigenous products over imports. This shift is seen as a positive development for local businesses and the economy at large. The reported loss in Diwali trade for China reflects the impact of this change in consumer behavior.
The “Vocal for Local” initiative, which gained prominence in India, aims to boost domestic industries, generate employment, and enhance the overall economic self-reliance of the country. As consumers become more conscious of their purchasing decisions, this movement is expected to strengthen local economies and reduce dependence on foreign imports.
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Author: IBC Global Times
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