Ayodhya’s Economic Surge: Ram Temple Launch Drives Business Boom

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Ayodhya’s Economic Surge: Ram Temple Launch Drives Business Boom
  • By Divya Singhal
  • 22nd January, 2024
  • Banking

Ayodhya anticipates an economic upswing as it prepares for the controversial Ram temple inauguration, boosting tourism and supporting local businesses.

Local Business Growth: Traders like Rajesh Majhi experience a 30% business increase due to heightened demand for banners and temple replicas. Kamal Kaushal notes massive sales growth in religious utensils.

Temple Construction Impact: Since the temple construction started in 2020, Ayodhya’s economic activity has surged, solidifying support for Modi among local traders. Infrastructure developments aim to transform Ayodhya into a spiritual hub.

Government Initiatives: The government invests in projects worth $3.6bn, including a railway station modeled on the Ram temple, an international airport, and widened roads.

Local Business Perspectives: Traders in Ayodhya hope for a better future as the city evolves into a business hub, overcoming past challenges. The recent granting of a Geographical Indication (GI) tag to besan laddus is expected to boost local sweet shops.

Tourism Boost: Tourism emerges as the most profitable sector with footfall expected to double post-inauguration. The state government allocates $12.05m for temple city renovations to accommodate rising tourist numbers.

Hospitality Sector Growth: The hospitality sector witnesses growth, with 50 new hotels sanctioned. The government offers a 25% subsidy to attract more tourism-related constructions.

Economic Impact Beyond Ayodhya: Ayodhya’s economic boom is anticipated to have a spillover effect, contributing to the state’s overall economic growth and increased employment opportunities.

Challenges Faced by Traders: While some traders face challenges, including shop demolitions and compensation issues, the Ayodhya Development Authority maintains adherence to government norms.

In conclusion, Ayodhya’s business boom, driven by the Ram temple launch, sets the stage for a promising economic future and increased opportunities for locals.

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