As the Chhath Festival unfolds from November 5 to November 8, 2024, it promises to bring a substantial economic uplift, with the Confederation of All India Traders (CAIT) projecting trade volumes reaching around Rs 12,000 crore nationwide. This vibrant celebration, deeply rooted in the Purvanchali communities of Bihar, Jharkhand, and beyond, is expected to draw around 150 million people, uniting for rituals that honor the sun.
Economic Impact of Chhath Puja
- Trade Volume: The Chhath festivities are projected to boost trade by an impressive Rs 12,000 crore, as per CAIT’s estimates.
- Participants: Nearly 150 million people are anticipated to engage in the rituals and festive shopping, contributing significantly to local economies.
Shopping Trends Driving Markets
Markets across India are witnessing an influx of shoppers collecting traditional items essential for Chhath. Key purchases include:
- Traditional Offerings: Items like bamboo baskets, banana leaves, sugarcane, coconuts, apples, bananas, sweets, and vegetables are flying off the shelves.
- Festive Attire: The demand for traditional attire such as sarees and kurta-pajamas has surged, benefiting local artisans and small-scale industries.
Cultural Significance and Support for Local Economies
Chhath Puja transcends religious boundaries, emerging as a celebration of cultural unity and local economic vitality. CAIT highlights that the festival reinforces the “Vocal for Local” and “Aatmanirbhar Bharat” (Self-Reliant India) initiatives by fostering demand for locally produced goods, boosting small-scale industries, and creating seasonal job opportunities.
