Mahakumbh to generate business worth Rs 3 lakh crore: trade body CAIT estimates

New Delhi [India], February 19 (ANI): The Mahakumbh festival in the holy city of Prayagraj is estimated to have generated business of over Rs 3 lakh crore (USD 360 billion) through goods and services, making it one of the biggest economic events in India, Confederation of All India Traders (CAIT) Secretary General and Chandni Chowk MP Praveen Khandelwal said.

Mahakumbh, which happens after 144 years, is being held in Prayagraj from January 13 to February 26, witnessing the arrivals of millions of devotees over these six weeks.

Trade leader and parliamentarian Khandelwal noted that this world's largest human gathering has firmly established the connection between faith and economy.

The Mahakumbh is boosting local trade with a surge in demand for Mahakumbh-themed products like diaries, calendars, jute bags, and stationery. Sales are reported to have increased due to meticulous branding.

Khandelwal mentioned that before the commencement of the Mahakumbh, initial estimates projected the arrival of 40 crore people and business transactions worth around Rs 2 lakh crore.

However, due to the unprecedented enthusiasm across the country, it is now expected that nearly 60 crore people will participate in the Mahakumbh by February 26, leading to a massive business turnover exceeding Rs 3 lakh crore.

This, he said, has provided a significant boost to Uttar Pradesh's economy and created new business opportunities.

Highlighting the economic impact of the Mahakumbh, Khandelwal noted that several business sectors have witnessed large-scale economic activities, including hospitality and accommodation; food and beverage sector; transport and logistics; religious attire; puja samagri, and handicrafts, textiles, apparel and other consumer goods; healthcare and wellness services; media, advertising and entertainment; civic services; telecom, mobile, AI-based technology, CCTV cameras, and other equipment.

Khandelwal further pointed out that the economic benefits of Mahakumbh are not limited to Prayagraj.

Cities and towns within a 150 km radius have also experienced a significant business surge, strengthening local economies.

Additionally, Ayodhya, Varanasi, and other religious destinations have seen an increase in pilgrim visits, as devotees travel for the darshan and worship of Lord Ram in Ayodhya, Lord Shiva in Varanasi, and others in the nearby districts. This has further fueled massive economic activities in these areas.

The Delhi MP said Mahakumbh is expected to positively shape India's trade, commerce, and cultural landscape, setting a new economic benchmark for years.

The Uttar Pradesh government has spent Rs 7500 crore for the improvement of Prayagraj's infrastructure - flyovers, roads, and underpasses The Rs 7500 crore spending included Rs 1500 crore that was earmarked specifically for Mahakumbh arrangements. (ANI)

(The story has come from a syndicated feed and has not been edited by the Tribune Staff.)