India's Festive Season Boosts Economy with Rs 50,000 Crore Boost

India's festival season kicks off, generating a projected Rs 50,000 crore in business according to CAIT. There's a notable shift towards Indian-made products, spurred by government initiatives. The festive period includes over 1 lakh events nationwide, offering employment and showcasing cultural activities, with Delhi playing a pivotal economic role.

The festival season in India has commenced with fervor, as events like Navratri, Ramleela, Garba, and Dandiya are anticipated to spur business activities worth over Rs 50,000 crore across the nation, reports the Confederation of All India Traders (CAIT). In Delhi alone, economic activities are expected to contribute more than Rs 8,000 crore, providing a substantial boost for local traders.

CAIT Secretary General and Member of Parliament, Praveen Khandelwal, highlighted a growing trend in festive shopping towards Indian-made products, reflecting a reduced interest in Chinese imports. This shift is attributed to Prime Minister Narendra Modi's "Vocal for Local" and "Atmanirbhar Bharat" campaigns, which have enhanced the quality perception of domestic goods among consumers.

More than 100,000 events, including religious, cultural, and social programs, are set to take place nationwide, generating employment for millions. The festival calendar progresses with major festivities such as Navratri, Ramleela, Garba, and Dandiya, followed by Vijayadashami, Durga Visarjan, Diwali, Chhath Puja, and others.

Delhi is set to host over 1,000 Ramleelas and numerous Durga Puja pandals, with Garba and Dandiya celebrations gaining popularity countrywide, including in the capital. A rise in demand for traditional attire, puja items, sweets, and decorative materials is noted, according to Khandelwal.

The consumption of food and sweets, such as halwa, laddoos, and barfis, sees a significant increase during these celebrations. Fruits and flowers are also in higher demand, alongside decorative elements like diyas, torans, rangoli materials, and lighting for home and temple adornments.

Tent house and decoration businesses expect a boom with the large-scale organization of fairs and festivities across India, enticing millions of participants. (ANI)

(With inputs from agencies.)