Diwali is the five-day festival of lights, celebrated by millions of Hindus, Sikhs and Jains across the world. The festival, which coincides with the Hindu New Year, celebrates new beginnings and the triumph of good over evil and light over darkness.ne of the most significant festivals in Indian culture, Diwali, the festival of lights, sees millions attend firework displays, prayers and celebratory events across the world every autumn.