As the festive season envelops Mokokchung town, the air is vibrant with preparations and celebrations. Yet, beyond the lights and decorations lies an economic narrative that warrants deeper reflection. In the absence of verifiable statistics, let us assume that there are 50000 households in Mokokchung town, with half of them purchasing festive decorative lights. If approximately 25,000 households spend an average of Rs 5,000 on festive decorations, the total expenditure amounts to an estimated Rs 12.5 crore. Of this, say 50% or Rs 6.25 crore is projected to be spent exclusively on decorative lights. The scale of spending becomes even more significant when factoring in buyers from outside Mokokchung town who rely on the same retailers in town. This broader consumer base likely quadruples the total sales.
On paper, this might seem like a boon for the local economy. Retailers of decorative lights could collectively earn margins of Rs 32.5 lakhs, with each of Mokokchung’s retailers potentially pocketing Rs 3.25 lakhs this season, assuming there are 10 retailers. However, the larger picture reveals a troubling imbalance: the overwhelming share of profits will likely flow to non-local traders, leaving little to benefit local entrepreneurs or contribute meaningfully to Mokokchung’s economy.
This pattern reflects a larger economic challenge. The festive season creates a surge in consumer spending, yet much of it is funneled into external supply chains, particularly those dominated by the migrant business community. While they provide valuable goods and services, the absence of local production or local entrepreneurs and traders in this sector draws to attention a missed opportunity for indigenous entrepreneurship to flourish. Sadly, this happens to be the case year after year.
The implications extend beyond festive spending. When a significant portion of money leaves the local economy, it limits the community’s capacity for reinvestment, job creation, and long-term growth. This raises important questions: how can Mokokchung encourage local businesses to participate more actively in festive markets? Can initiatives be developed to support local artisans and entrepreneurs in producing high-quality decorative items that compete with imported goods, for instance?
The festive season offers an opportunity not just for celebration but also for conscious consumerism. Supporting local businesses ensures that our spending benefits our own community, creating a ripple effect of economic development. Moreover, this shift can instill pride in homegrown products and foster a culture of self-reliance.
As we adorn our homes with lights and decorations, let us also illuminate the need for economic introspection. Mokokchung’s potential lies not just in its festive spirit but in its ability to channel this spirit toward building a robust local economy. This festive season, let us reflect on where our money goes and how we can make it work better for the town we cherish.