However, for Eid and the Chinese New Year, the city's Mayor said, the "goal is to get there".
"Have not spoken about Diwali yet. On the other two (festivals), goal is to get there (declare school holidays)," Mayor Bill de Blasio said.
"It will take time. It is complicated in terms of logistics and school calendar and budget. But it is something I want to get done in a reasonable time frame," de Blasio said.
Indians are the largest South Asian group here, comprising 2.4 per cent of the city's population of more than 8 million people.
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The New York City metropolitan area is home to nearly 600,000 Indian-Americans, with a majority of residents concentrated in Queens neighbourhoods such as Jackson Heights, Flushing, Glen Oaks, Floral Park, Bellerose, Jamaica, Kew Gardens, and Elmhurst.
The ethnic community has long been demanding that the city's schools should be closed on Diwali.
Shah appealed to the Mayor to recognise the Hindu holiday, saying "we are disappointed. We have been trying for a long time... It's very important for the community."
Former Mayor Michael Bloomberg too had opposed a school holiday on Diwali saying kids should not miss more school.