The recent Janmashtami festivities have significantly boosted business across India, with transactions exceeding ₹25,000 crore, according to the Confederation of All India Traders (CAIT). This surge in economic activity highlights the strong consumer spending driven by vibrant celebrations during one of the most commercially active periods of the year.
Praveen Khandelwal, CAIT’s National General Secretary and Member of Parliament from Chandni Chowk, reported large-scale sales during the festival. The most notable sales were seen in flowers, fruits, sweets, deity costumes, decorative items, fasting sweets, milk, curd, butter, and dry fruits. Khandelwal emphasized that festivals like Janmashtami play a crucial role in bolstering the “Sanatan economy,” which in turn strengthens the nation’s overall economy.
BC Bhartia, CAIT’s National President, noted that Janmashtami was celebrated with great enthusiasm, particularly in North and West India, where the festival is observed with much joy. This year, Janmashtami was celebrated on August 26, with devotees engaging in traditional fasting and decorating temples and homes with flowers, diyas, and lights. Temples were attractively adorned, drawing large crowds of devotees.
A unique feature of this year’s Janmashtami celebrations was the blend of traditional and modern elements. Bhartia highlighted special attractions such as digital tableaux, selfie points with Lord Krishna, and other delightful displays that captivated devotees. The festival also saw various social organizations organizing large-scale events, including bhajans, religious dances, and discourses by saints and sages.
The significance of Janmashtami in India’s economy was further underscored by the CAIT’s earlier predictions of festive trade volumes. For instance, the Rakhi festival earlier this month saw trade exceeding ₹12,000 crore, a substantial increase from previous years. This pattern of rising consumer spending during festivals reflects the broader economic impact of these celebrations.
The Janmashtami festivities have once again demonstrated their importance in driving economic activity in India. With transactions surpassing ₹25,000 crore, the festival not only brought joy to millions of devotees but also provided a substantial boost to various sectors of the economy. As the nation continues to celebrate its cultural heritage, the economic benefits of such festivals are likely to grow even further.
