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Firecracker Industry Showing Signs Of Revival
BUSINESS ECONOMICS
|Novembeb, 15-30, 2018
Historically, fireworks and pyrotechnic shows existed as a form of royal entertainment in India.
At present, the firecracker industry is booming in India and it experiences a significant spike during Diwali. The Indian firecracker industry is currently the second largest in the world and is only behind China. It is worth around 6000 crore and with an annual growth rate of about 10%, it is providing employment opportunities to over five lakh families, directly or indirectly. Apart from Diwali, the wedding season also witnesses a rise in demand for firecrackers and they are also being increasingly used in the entertainment industry.
The industry, in many places, is regional in nature. Nungi, situated in South 24 Parganas district, West Bengal is a regional hub of firecracker production. However, many associated with this industry also work in the shoe-making industry during the lean season.
Esta historia es de la edición Novembeb, 15-30, 2018 de BUSINESS ECONOMICS.
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