Ayodhya's Ram Temple Inauguration Boosted MSMEs, Rs 55,000 Crore Business Claimed

New Delhi, Jan 31 (KNN) Ayodhya's historic Ram temple inauguration has sparked a significant economic upturn for micro, small, and medium enterprises (MSMEs) across India, according to a recent report by the Forum for Internet Retailers, Sellers, and Traders (First) India.

The report reveals that businesses in this sector have reported a staggering Rs 55,000 crore in revenue following the momentous event.

Investments pouring into Ayodhya now total an astonishing Rs 4-5 lakh crore, extending across manufacturing, services, and supply chains.

The city's USD 10 billion investment-based transformation plan is anticipated to have a positive multiplier effect, potentially creating employment opportunities for over 10 lakh people annually.

Hospitality chains, consumer goods companies, and food service chains are strategically expanding their operations in the area, leading to increased employment opportunities.

The ripple effect is expected to stimulate high growth within a 100-kilometer radius, benefitting businesses ranging from small hotels and homestays to provision and confectionery stores, as well as small food vendors.

The surge in visiting pilgrims has resulted in a heightened demand for various goods and services from local businesses.

First India projects that the additional business generated could reach Rs 90,000 crore by January, creating a boon for MSMEs comparable to festival sales periods.

Vinod Kumar, President of the India SME Forum and Trustee of First India, emphasised the unique opportunity the Ram Mandir has presented for MSMEs across the country.

He urged government initiatives to support MSMEs in scaling their businesses online through collaboration with platforms like ONDC nationally and international marketplaces like Amazon and eBay.

The Confederation of All India Traders (CAIT) highlighted that the temple inauguration has unlocked unprecedented opportunities for the business community and small industries nationwide.

As MSMEs increasingly utilise ecommerce platforms and cutting-edge technology, this positive trajectory is poised to contribute significantly to India's economic prosperity.

(KNN Bureau)