Ganesh Chaturthi saves the economy of India every year. Yes, we agree, our cities shine during Ganpati. Every house has a new glow. We meet our friends and eat lots of food. But what is the relation of this with the economy of India? Let’s understand in today’s article how much Indians earn during these 11 days of Ganpati. What is the total turnover of this Ganesh Chaturthi festival? How many idols are made on Ganesh Chaturthi? How many flowers are sold? And what difference does it make to us? If you find this information interesting,
How Do Festivals Like Ganpati Impact Business Growth and the Economy?
Ganpati is one of the most popular festivals in India. Ganpati Bappa not only rules our hearts but also drives our economy. If you are a business owner, you must understand the economic impact of festivals. Because festivals may be holidays for us, but for businesses, it is a time of high growth.
How Does the Economic Turnover of Ganpati Utsav Compare to the IPL?
Festivals are called the economic drivers of India because they mark new beginnings. There is a concept we call the “ripple effect”. Consumption boom, seasonal employment, export earnings, capital investment. It sounds a little difficult, but you have seen it yourself. And I will give you proof. Ganpati Bappa is the God of prosperity. And his power is seen in the form of economic activity during Ganesh Utsav. You won’t believe it, but in 10 or 11 days of Ganpati, just in a city like Mumbai, there is an economic turnover of 1 lakh crore.
How Does Ganpati Utsav Drive Demand in Key Industries Like Textiles, Jewellery, and Sweets?
To understand this, IPL is the biggest sporting event in India. And during IPL, the business of 15,000 crores is done. Think, 15,000 crores for IPL, which runs for 2 months, and 1 lakh crores for Ganpati. And such a huge figure is absolutely correct. Suddenly the demand for traditional clothes increases. Be it a saree or a kurta. People rush to meet their family with new clothes and jewellery. And when they go to someone’s house, they cannot go empty-handed. There are just 3 industries. If we talk about textiles, jewellery and sweets, then textiles account for 30% of the sales.
25% for jewellery and 40% for sweets. And not only us, but even Ganpati Bappa loves sweets. This is modak, whose main ingredient is coconut. If you look at the data of a city in Pune, 35 lakh coconuts are sold in just 10 days. If the demand is high, then the prices also increase. According to the data of 2010, the coconut market in Pune has a turnover of 1.8 crores in just 10 days. Imagine, 1.8 crores. And this data is 14 years old.
Now let’s move from Pune to another city, Nashik, and see how many flowers Nashik people buy for Ganpati Bappa’s worship. This is the Panchvati flower market in Nashik, where 20 tons of flowers are sold on a normal day. 20 tons of flowers, equivalent to 10 fully grown rhinoceroses, are consumed in Nashik in a day.
And this is just a normal day, not a festival. During Ganpati, the sale of marigold, shivanti, parijat, jasmine and Bappa’s favourite hibiscus doubles. If you do a little calculation, one city in Nashik sells flowers equivalent to 200 rhinoceroses in 10 days. This is really crazy. Think, how many flowers are sold in Nashik because of this small activity.
How Many Ganpati Idols Are Produced in Raigad, and What Are Their Economic Benefits?
There is a Pen area in Raigad district of Maharashtra. Ganpati idols are made in many factories here. More than 2000 craftsmen make Bappa through their art. Do you know how many? 30-35 lakh idols. That too every year. These craftsmen earn Rs 600 crore from this auspicious activity. If we talk about the whole country, then 20 crore idols are sold every year. This is called seasonal employment, which contributes a lot to India’s economy.
Are Ganpati idols also imported from China?
This is the second level of the ripple effect. But you will not believe that a few years ago, Ganpati idols were also imported from China. But after Covid, this trend stopped. As a result, our local sculptors got a business of Rs 300 crore. Before CAIT’s campaign, China used to get a business of Rs 50,000 crore during the festive season. Meaning, the festival was ours, but they used to benefit. Now it has reduced to a great extent.
How Does Ganpati Bappa Create Job Opportunities and Boost Export Earnings for India?
Decorators, electricians, sculptors. God knows how many times Ganpati Bappa creates such opportunities. Statistics show that 1 lakh people get additional job opportunities these days. Today, a large population of India has settled abroad, people who have gone out for work. This festival is a good opportunity to meet your family and connect with your soil. It also creates export earning opportunities for Indians and becomes the third link of our ripple effect. Imagine, 100 billion dollars are sent to India every year.
This is the money sent by those who work abroad. But they have not forgotten their families yet. This money is very important for India. Apart from this, the interest of NRIs in India is also important for India. Because during Ganpati, exports also increase.
How Is the International Ganesh Festival Boosting Tourism and Trade in India?
In countries like the UK, the US and Australia, everything from idols to desi sweets and namkeen is exported. Did you know? India is the world’s largest exporter of namkeen. China and Spain are second and third. There are more than 1400 small and big exporters in the country. Who have customers in 131 countries? The Indian namkeen market is worth $108 billion.
During festivals, Chitale ki Bakarwadi, Mango Barfi, Haldiram ki Bhujia and Orange Barfi are among the most exported products of the country. Export is not just a product, it can also be an idea. Last year, the Maharashtra government did an experiment. The first International Ganesh Festival was organized. Tourists were given unique experiences in Mumbai, Pune, Palghar and Ratnagiri. Like the carnival in Brazil.
International tourists come to Brazil, so why not India? That was the thinking. Tourism is an area where India has a lot of opportunity and a lot needs to be done. Actually, the more you do, the less you get. So, it is important to market Ganesh Utsav as an event, an activity, an experience. What are your thoughts?
For all these reasons, people invest more capital in their business. Companies launch offers, promote, and run discounts to increase sales. Shopkeepers double their sales. People consider this time auspicious for shopping. Cars and new homes. People in India believe in shopping in Shubh Muhurat.
What Is the Impact of Ganpati Festival on Banking Sector Demand and Housing Loans?
No matter what the market rate is, if you buy something on a good day, everything will be good. Real estate companies launch offers for buyers. People take housing loans. So, the demand for loans in the banking sector increases. According to Economic Times, Ganesh Utsav is no wonder for the auto industry. Look at this data. Last year, 1,24,004 four-wheelers and 4,67,002 two-wheelers were sold during these 10 days. That’s huge.
But it’s not just about making money. What happens with that money is also very important. If there’s one thing that makes this economic wave special, it’s the art of giving.
What Is the Significance of the Mahaladdu Auction and Tulabhaar Seva During Ganpati Utsav?
In Hyderabad, every year there’s a Mahaladdu competition where huge laddus are made and then auctioned. The money from the auction is used for charity. Last year, a 5 kg Mahaladdu was sold for Rs 1.26 crore. And all the money went for a noble cause. Mumbai’s GSB Seva Mandal has Tulabhaar Seva.
People weigh themselves or their loved ones on these scales. And donate the same weight of food, coconut, prasad or even silver. People donate from the heart. Last year, for Lalbaugcha Raja, donations of 1 crore were received in the first two days of Ganpati. Lalbaugcha Raja, Siddhivinayak Temple Trust, runs a dialysis center where people get treated. Chintamani of Chintpokhali sends goods for a school in Raigad. Even small activities have big impacts.
Economic impact. From flower sellers to real estate, from sculptors to e-commerce, Ganpati Bappa leaves his mark in every sector. And similarly, every year Ganpati Bappa saves the economy of India.
How Does Ganpati Utsav Create Job Opportunities and Support the Informal Sector?
Because 10 crore people in India work in the informal sector. We need all of them. The population of the country is a double-edged sword. If this population remains unemployed, then nothing can be done for this country. And the truth is that no company, no government can create jobs for all of us. Every year 20 million jobs are needed and we can only create 5 million new jobs. The remaining 15 million people will not get jobs. This is the reality of India. But during Ganpati, everyone is busy, engaged in work, everyone has something or the other to do.
How Has Ganpati Bappa’s Festival Helped India Recover Economically Post-COVID?
In 2020 and 2021, we could not leave our homes and we had the facility to work from home. But the 10 crore people who worked in the informal sector, where did this facility have? They were dependent on your consumption. That you buy flowers from them, buy coconut from them, call a decorator in the society.
Give them a chance to make a Ganpati pandal. After COVID, if India is back on track, it is because of Ganpati Bappa. It is because of the economy of this festival. Today we are seeing India becoming the fastest growing large economy in the world. But think about India three-four years ago. When in an instant, COVID took away a quarter of our GDP.
Since then, this journey has been possible because of the festival economy. From Raksha Bandhan to Onam, Ganesh Chaturthi celebrations, Navratri, Dussehra, Diwali. These festivals have put India’s economy on the right track. If you understood something from this blog, share it with your friends.
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