Janmashtami Boosts Business Activity Across India, Surpasses Rs. 25,000 Crore

Janmashtami celebrations across India have resulted in a significant increase in business activity, with transactions exceeding Rs. 25,000 crore, according to the Confederation of All India Traders (CAIT). This surge in consumer spending underscores Janmashtami's importance as one of the most commercially active periods of the year.

Key Consumer Spending

Praveen Khandelwal, CAIT's National General Secretary and Member of Parliament from Chandni Chowk, highlighted the widespread sales during the festival. He noted that there was high demand for flowers, fruits, sweets, deity costumes, decorative items, fasting sweets, milk, curd, butter, and dry fruits. Khandelwal emphasized that festivals like Janmashtami play a crucial role in the Sanatan economy, strengthening the nation's economic health.

Celebrations Across the Nation

BC Bhartia, CAIT's National President, shared that Janmashtami was celebrated with great enthusiasm throughout India, particularly in North and West regions. On August 26, devotees marked Krishna Janmashtami by fasting and decorating temples and homes with flowers, diyas, and lights. Temples were elaborately adorned, attracting large crowds. The festivities included digital tableaux, selfie points with Lord Krishna, and various other attractions. Cities came alive with bhajans, religious dances, and discourses by saints and sages, while social organizations hosted grand Janmashtami events.

Cultural and Economic Significance

According to Hindu scriptures, Janmashtami falls on the eighth day of the dark fortnight in the month of Bhadrapada, commemorating the birth of Lord Krishna. Earlier in the month, CAIT projected that festive trade during Rakhi would exceed Rs. 12,000 crore. For comparison, business during Rakhi was Rs.7,000 crore in 2022, Rs.6,000 crore in 2021, Rs.5,000 crore in 2020, Rs.3,500 crore in 2019, and Rs.3,000 crore in 2018.

Leaders Extend Janmashtami Greetings

Prominent leaders, including Prime Minister Narendra Modi and Leader of the Opposition in the Lok Sabha, Rahul Gandhi, extended their wishes on Janmashtami.

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PM Modi conveyed his greetings on X (formerly Twitter), expressing his wishes for a joyful Janmashtami and invoking "Jai Shri Krishna." Rahul Gandhi also shared his congratulations, hoping that the festival would bring new enthusiasm and excitement into everyone's lives.