Janmashtami, a major Hindu festival celebrating the birth of Lord Krishna, has spurred a significant economic boost across India, with consumer spending reaching a remarkable ₹25,000 crore, according to the Confederation of All India Traders (CAIT). The surge in spending is a testament to the festival’s widespread appeal and its capacity to stimulate various sectors of the economy, particularly retail, food, and travel.
Source:- news 18
CAIT highlighted that the festive season has seen a sharp increase in the purchase of traditional items such as sweets, clothing, and decorations. Temples and households across the country have been adorned with flowers and intricate decorations, driving demand for related products. The sale of ethnic wear, especially saris and kurta-pajamas, has also seen a notable uptick, contributing to the retail sector’s robust performance.
Source:- news 18
Food and beverage sales have surged as well, with sweets like peda and laddoo being in high demand. Local confectioneries and sweet shops have reported a significant increase in sales, supported by the tradition of offering sweets to deities and distributing them among friends and family. Additionally, restaurants and catering services have seen higher bookings for Janmashtami feasts, further boosting the economy.
The travel industry has also benefited, as many devotees undertake pilgrimages to prominent Krishna temples in Mathura, Vrindavan, and Dwarka. Hotels and transportation services in these regions have seen a substantial increase in bookings, contributing to the overall economic uplift.
CAIT emphasized that this surge in transactions is not just a reflection of consumer spending but also a sign of economic recovery post-pandemic. The organization praised the efforts of traders and businesses in capitalizing on the festive spirit, thereby contributing to the economy’s growth. Janmashtami has proven to be a significant driver of economic activity, reaffirming the festival’s importance not just in religious terms, but also in its ability to invigorate markets nationwide.
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