Economic Impact and Benefit of Ganesh Chaturthi Festival.
Festivals, from the joyous moments to grand celebrations, portray the true picture of Bharat, showing its vibrant culture and its huge economic impact.
Ganesh Chaturthi is one of the biggest drivers of economic activity, especially for the 21 million people of Mumbai. According to Money Control, the 11-day festivities generate economic activities amounting to Rs 1 lakh crore.
Although official government figures estimate business between Rs 45,000 to Rs 50,000 crore during Ganesh Chaturthi, independent analysts believe that the festival’s economic impact may soon surpass that of Diwali, which currently stands at Rs 1.5 lakh crore.
Apart from the money spent on Pandals, the business ecosystem around the festival involves a wide range of industries and local businesses such as Lord Ganesha idols which alone constitute more than Rs 500 crore of business.
Ganesh Chaturthi marks a fresh start for small, medium, and large businesses alike. The festival acts as a major catalyst for increased sales across product categories, providing a vital boost to the economy.
Small and medium enterprises (SMEs) have reported a 35% rise in business, and idol makers have done business worth Rs 500 crore. The tourism industry also benefits, with an estimated 10-15% rise in activity, while e-commerce platforms witness a growth of 35-40%. Overall, the Ganesh festival has a substantial impact on various economic sectors.
For Maharashtra, the heart of Ganesh Chaturthi, the festival generates Rs 25,000 crore in economic activity, providing employment, boosting small businesses, and attracting tourists. But its impact goes beyond the state, touching every corner of India and reaching communities around the world.
Ganesh Chaturthi benefits a wide range of sectors, with the retail industry being one of the biggest winners. The sale of consumer electronics and white goods skyrockets during this period, while fast-moving consumer goods (FMCG) also see a notable spike in sales.
The government has taken several initiatives to promote indigenous businesses and strengthen the local economy during the Ganesh festival. As the festival continues to grow in scale, its positive economic impact is likely to expand even further.
