Colorful paper lanterns are symbolic to Diwali festival in India. Diwali being festival of lights is usually celebrated with colorful small lamps called diyas and lanterns.
Lanterns are usually made of some frame and are covered with glossy or matte papers. These are hung outside the houses with lights inside.
I clicked this picture last month during Diwali. These Lanterns were hung up with lights for sale.
The colorful lights and different lantern designs are one of the important aspect of Diwali.
Thanks for visiting!! ☺
And Miles to go before I sleep... 
Even though the concept of lantern is Chinese, these have been adapted with Indian designs.
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