Finance Minister Nirmala Sitharaman on Saturday announced India’s plan to hold annual mega shopping festivals on the lines of Dubai shopping festival.
Such festivals will be held on distinctive themes such as gems and jewellery, yoga, tourism and textiles and leather across four centres in the country by 2020.
This comes in the backdrop of India’s attempts to battle an economic slowdown, tepid job growth, and decelerating exports. The economy expanded at 5% in the June quarter, its slowest pace in more than six years at a time that global economic conditions have also turned less favourable.
The Gulf emirate organises world renowned events such as Dubai Shopping Festival, the Dubai Jazz Festival, the Dubai Food Festival, the Dubai International Film Festival, the Dubai Desert Classic and the Dubai Duty Free Tennis Championships that attract tourists in hordes.
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