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.
