IUMBH NAGAR (PRAYAG): The grandeur and scale of the Mahakumbh increases as the Uttar Pradesh government is aiming that this religious event is expected to draw an estimated 400 million pilgrims and visitors. Past data and estimates indicate that this mega event will be a big-ticket churner.
Like elections and multi-sports championships, the Mahakumbh is all set to be a major economic activity, creating and generating revenue, according to experts and those who have observed the fair in the past. The mega event will begin on January 13 and conclude on February 26.
The last Mahakumbh held in 2019 generated a total revenue of Rs 12,000 crore, while the Kumbh Mela 2019 churned out a revenue of Rs 1.2 lakh crore, according to a study by the Confederation of Indian Industry. Economic activities associated with the Kumbh generated employment for over 6 lakh people in 2019 across various sectors.
Estimates of the potential of the Mahakumbh 2025 vary with experts placing the figure between Rs 1.5 lakh crore and Rs 2 lakh crore. The event has already seen significant infrastructural investments. The services and supplies would range from basic management to hotels, transport, food grains to helicopters and AI-based services.
During his Prayagraj visit on December 13, 2024, Prime Minister Narendra Modi mentioned the economic aspect of the fair, highlighting that it not only gives social benefits but also provides economic empowerment to the people.
TURNOVER ESTIMATES
Just the basic items of daily need required by devotees during Mahakumbh 2025 would be around Rs 17,310 crore or above, as per turnover estimates prepared by the U.P. Chapter of Confederation of All India Traders (CAIT).
Bu hikaye Hindustan Times East UP dergisinin January 07, 2025 sayısından alınmıştır.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.
Already a subscriber ? Giriş Yap
Bu hikaye Hindustan Times East UP dergisinin January 07, 2025 sayısından alınmıştır.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.
Already a subscriber? Giriş Yap
Tough questions for India after two debacles in a row
A second series loss raises more questions than answers as head coach's performance comes under the lens
Govt Forecasts FY25 GDP Growth at 6.4%
India's economy is expected to grow 6.4% in the current fiscal year ending March, the National Statistics Office said on Tuesday, below the initial government projection of 6.5-7%.
Car sales unexpectedly drop by 2% in December, says Fada
Indian car dealers clocked a surprise 2% drop in sales in December, with high year-end discounts boosting demand only for a handful of showroom owners, a dealers' body said on Tuesday.
Nippon says there's no plan B to blocked US Steel deal
NIPPON'S PLANNED PURCHASE OF ITS US RIVAL WAS BLOCKED LAST WEEK BY THE US PRESIDENT BIDEN
MKT Benchmarks Rebound After Two-Day Decline As Reliance, ICICI Bank Rally
Benchmark equity indices Sensex and Nifty rebounded on Tuesday after a sharp decline in the previous two sessions, driven by intense buying in blue-chip stocks like Reliance Industries, ICICI Bank and L&T amid a firm trend in global markets.
Wagh Bakri Tea to Invest ₹100 Cr for New Mfg Unit
Ahmedabad-headquartered Wagh Bakri Tea Group will set up a new plant in Gujarat with an investment of over ₹100 crore to increase its raw material storage capacity and instant tea output, CEO Sanjay Singal said on Tuesday.
Duty cut on smartphone parts to hit electronics ecosystem, jobs
Any reduction in the customs duty on smartphone parts in the forthcoming budget will harm India's developing component ecosystem, discourage investment, increase imports, and make local firms uncompetitive, potentially resulting in job losses, think tank GTRI said on Tuesday.
Infosys taps staff to build ideas factory
In a first, Infosys Ltd has asked employees to think out of the box and come up with new ideas that can be scaled up and offered to clients as part of a business incubator programme.
Microsoft to Invest $3 Billion in AI, Cloud Expansion in India
CEO Satya Nadella, however, did not give a time frame for the spending
Banks' profits to moderate in FY26 as bad assets rise
Increase in bad assets will impact banks' profitability in FY26, a domestic rating agency said on Tuesday.
