The Indian festival of Diwali has long been synonymous with fireworks. The Supreme Court of India ruling restricting fireworks to just 2 hours on Diwali to improve air quality seems to have little effect. The day after the festival, the air quality in India reached 999 micrograms per cubic meter in some areas with anecdotal evidence suggesting that many chose not to adhere to the ruling.
Images of people burning firecrackers while wearing facemasks against the smog would have you believe that people in India do not care about the environment. We believe this is not the true picture!
Our ethnographic studies show that the youth in particular, care about the environment and the quality of the air that they breathe. They have shared their concerns with us and are keen to do their part. Many told us via WhatsApp how they celebrated the festival without firecrackers because of concerns about air quality.
you can detect a clear shift in Indian youth towards more concern about air quality and the environment
Cultures do not change overnight, and fireworks have always been a big part of the Diwali. It will take time before people stop using them. When talking to young people in India - a country with the largest youth population the world has ever seen - you can detect a clear shift towards more concern about air quality and the environment. Despite the Delhi smog, India is on its way to be a cleaner and greener country, and companies would be wise to take advantage of this shift in attitude.
The views expressed herein do not constitute research, investment advice or trade recommendations and do not necessarily represent the views of Trinetra Investment Management LLP and are subject to revision over time. Trinetra is authorised and regulated by the Financial Conduct Authority in the United Kingdom.
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