Ram Mandir Stimulus: MSMEs Thrive with Trade Surge Exceeding Rs 1 Trillion

The inauguration of Ram Mandir and the development of Ayodhya have become a source of joy for MSMEs, resulting in a trade boost of over Rs 1 lakh crore. The consecration ceremony on January 22 saw significant contributions from micro, small, and medium enterprises (MSMEs) across various sectors, such as infrastructure development, tourism, security, surveillance, merchandise, souvenirs, horticulture, and food. Praveen Khandelwal, Founder and General Secretary of Confederation of All India Traders (CAIT), revealed that the trade volume surpassed initial estimates, reaching double the anticipated amount.

As per the ‘India Strategy: Ayodhya – Unlocking India’s Tourism Potential’ report by brokerage firm Jefferies, the extensive transformation of Ayodhya, including a new airport, revamped railway station, township, improved road connectivity, and more, is expected to result in a $10 billion boost. Khandelwal highlighted the economic activity generated by religious tourism, benefiting businesses within a 100-km radius of Ayodhya, including small hotels, provision and confectionary stores, and small food vendors.

The upgraded city infrastructure is anticipated to strengthen manufacturing and service-oriented MSMEs, potentially creating employment opportunities for over 10 lakh people annually. Neeraj Kushwaha, Founder of Technosys, expressed that the development of Ayodhya is a significant opportunity for MSMEs, citing a Rs 40 crore project the company secured for an AI-based traffic management system.

Pakka Ltd, a compostable packaging solutions manufacturer, collaborated with Ram Janmabhoomi Teerth Kshetra Trust to promote environmental sustainability during the Ram Mandir consecration ceremony. The boost to MSMEs extends to various sectors, with micro-businesses experiencing substantial growth in the sale of devotional products. However, caution is advised against unlicensed businesses entering the market, with suggestions for the Department for Promotion of Industry and Internal Trade (DPIIT) to establish guidelines.

The contributions from MSMEs range from flowers and incense sticks to locks and laddu prasad, reflecting a diverse and enthusiastic involvement in the celebrations. Khandelwal estimates that Ayodhya has received investments worth Rs 4-5 lakh crore, with expectations of more opportunities arising in the future. The development of Ayodhya is seen as a unique chance for entrepreneurs, urging MSMEs and startups to explore innovative opportunities for contributing to the city’s progress.