India’s mega shopping festivals: What is being planned and what is the impact?

News:Government has announced that India will be organising an annual mega shopping festival in four Indian cities on the lines of massive Dubai Shopping Festival.

Facts:

About the festival:

• The mega shopping festival will be held in four major cities by March 2020.The festival is aimed to push more people-to-people contacts and connections.
• The festival is expected to follow the model of Dubai’s annual shopping festival which is famous for the heavy discounts offered by retailers in the city on popular brands across sectors.
• However,India’s own mega shopping festival will have different themes in each of the four cities and is expected to focus on sectors like gems and jewellery, yoga, tourism and textiles and leather.
• The festival is expected to give a boost to exports of micro, small and medium enterprises(MSMEs) as they will be a potential showcase of the products that India has to offer in the specified themes.