Diwali or Deepavali is a significant holiday in Hinduism, Sikhism and Janism and is celebrated as The Festival of Light. It marks the beginning of the Indian New Year, and for the business community it is a time for settling debts. The lights represent the good and its victory over the evil within the human beings and the uplifting of spiritual darkness. This victory is symbolized by the legendary homicide of the oppressive Narakasura by Lord Krishna. The word Deepavali stems from Sanskrit and means an array of lights. With the decrease of the knowledge of Sanskrit, the name was modified to Dewali.

Deepavali celebrations are spread over six days. Prayers for good year ahead are performed and The Goddess Lakshimi, which is the Goddess of wealth in Hinduism is being thanked. Besides the worship the celebration includes fireworks, flowers and sharing of sweets. While the origin of the holiday varies from region to region, there is a common essence that is is the rejoice of the inner light. Central to Hindu philosophy is the assertion that there is something transcendental which is pure, infinite and eternal (known as Atman). Deepavali is the celebration of the awakening of this inner light which stays above any carnal desires, and which is the the true nature and existence of the individuals. It is the awakening of the human mind of the slumber and becoming conscious.

Another belief is that the souls of departed relatives descend to earth. For this purpose oil lamps are lit to guide them.

In Singapore Deepavali is marked with various events. Not to be missed are the various Craft Exhibitions, Deepavali Street Parade, Deepavali Bazaar and Trade Fair.