The much-anticipated inauguration of the Ram Mandir in Ayodhya has not only been a moment of spiritual significance but a catalyst for a remarkable economic upswing. Micro, Small, and Medium Enterprises (MSMEs) are witnessing unprecedented growth, with trade figures exceeding Rs 1 lakh crore in January 2024. This article explores the potential economic boost resulting from the Ram Mandir inauguration, highlighting the significant role played by MSMEs and incorporating insights from the Jefferies report projecting 5 crore tourists to visit Ayodhya in the upcoming year.
MSME Growth and Economic Boost
Exceeding Trade Expectations
Praveen Khandelwal, Founder of CAIT, reveals that the economic activity generated from religious tourism has surpassed initial estimates. With over Rs 1 lakh crore in trade from January 1 to the present, the figures have doubled expectations, indicating a substantial economic boost for small businesses.
Transformative Opportunities Unleashed
MSMEs across sectors, including infrastructure development, tourism, security and surveillance, merchandise and souvenirs, horticulture, and food, are capitalizing on newfound opportunities. The multi-billion transformation of Ayodhya, as projected by the Jefferies report, is set to further amplify these opportunities.
Jefferies Report on Ayodhya’s Tourism Potential
According to the Jefferies report titled ‘India Strategy: Ayodhya – Unlocking India’s Tourism Potential,’ Ayodhya is expected to witness a substantial influx of tourists. The report projects 5 crore tourists visiting Ayodhya in the upcoming year, stimulating economic growth through increased tourism-related activities.
Environmental Sustainability Collaborations
Ayodhya-based Pakka Ltd collaborates with Ram Janmabhoomi Teerth Kshetra Trust to promote environmental sustainability during the consecration ceremony. This collaboration involves offering compostable tableware to the temple, aligning with the Uttar Pradesh government’s initiative to make Ayodhya a plastic-free zone.
Stock Market Surge for MSMEs
Publicly listed company Pakka Ltd witnesses a significant surge in its shares, jumping over 150% in the past two months. The stock’s impressive performance reflects the positive impact of Ayodhya’s development on MSMEs.
Continued Opportunities Await
With 80% of opportunities yet to unfold, Ayodhya’s ongoing development promises sustained support and opportunities for MSMEs. The boost to MSMEs is substantial and extends far beyond Ayodhya, benefiting businesses across the country.
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