CAIT Report: The festival of Ganesh Chaturthi has started from today. This festival is celebrated with great pomp in India. Like every year, this time too it is celebrated with enthusiasm across the country. This festive season will be wonderful for the businessmen. Just like the people, the market is full of enthusiasm on the occasion of Ganesh Chaturthi. Seeing this, the market is also hopeful of filling their pockets. The demand for Indian products is increasing due to the boycott of Chinese products in the market. There is also a huge demand among the buyers. According to an estimate by CAT, a business of around Rs 25,000 crore is expected across India this year on Ganesh Chaturthi.
More than 20 lakh Ganesh pandals
According to Praveen Khandelwal, national general secretary of the Confederation of All India Traders (CAT), due to Ganesh Chaturthi, economic activity increases in areas like Maharashtra, Karnataka, Gujarat, Andhra Pradesh, Telangana, Madhya Pradesh, Tamil Nadu and Goa. According to CAT national president BC Bhartia, after the survey conducted by local entrepreneurs in these states, it has been learnt that more than 20 lakh Ganesh pandals have been set up. If the minimum expenditure of Rs 50,000 on each pandal is also considered, then this figure crosses Rs 10,000 crore.
Spending on these will increase
According to Praveen Khandelwal, the Ganesh idol business is worth over Rs 500 crore. The sale of flowers, garlands, fruits, coconut, incense and other worship materials is also close to Rs 500 crore. Sweet shops and home-based businesses are seeing an increase of over Rs 2,000 crore in sales. Apart from this, due to the organisation of large functions and banquets by families, there is a business of about Rs 3,000 crore in catering and snacks.
Sales of these products are expected to increase.
According to BC Bhartia, the tourism and transportation business also gets a major boost during Ganesh Chaturthi. Travel agencies, hotels and transportation services (like buses, taxis, trains) see a growth in demand, whose turnover can cross Rs 2,000 crore. Talking about retail and merchandise, sales of apparel, jewellery, home décor and festival-related gift items can also touch Rs 3,000 crore. Apart from this, waste management and environmental services also get a major boost. Event management companies will also get business worth around Rs 5,000 crore.
