INDIA, September 6, 2024 (Money Control): Ganesh Chaturthi, a major Hindu festival in India, is expected to drive a business surge of US$2.98 billion, according to the Confederation of All India Traders. The traders’ body also noted that businesses are entirely avoiding Chinese products in favor of domestic goods. CAIT Secretary General Emeritus, Praveen Khandelwal, stated that Ganesh Chaturthi generates substantial economic activity, especially in states such as Maharashtra, Karnataka, Gujarat, Andhra Pradesh, Telangana, Madhya Pradesh, Tamil Nadu, and Goa. He emphasized the festival’s role in highlighting the importance and impact of the Sanatan Economy in India.

B.C. Bhartia, CAIT National President, stated that an estimated two million Ganesh pandals have been set up across India for the festival, which falls on September seventh this year. Maharashtra leads with over 700,000 pandals, followed by Karnataka with 500,000, and Andhra Pradesh, Telangana, and Madhya Pradesh with 200,000 each. With a minimum expenditure of $595 per pandal, the total spending on setup, decorations, and rituals alone surpasses $1.19 billion he emphasized. Bhartia highlighted the significant economic impact of Ganesh Chaturthi, pointing out the trade in Ganesha statues, essential items such as flowers, garlands, and coconuts, and the demand for Modaks and other sweets. He also pointed out that the festival boosts local tourism (travel companies, hotels) and transportation (such as buses, cabs, and trains) and retail sales of festival-related merchandise such as clothes, accessories, home decor and gift items.

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