Celebrating Prosperity: How Dussehra to Diwali Boosts Bharat’s Economy and Global Influence

Paromita Das

GG News Bureau

New Delhi, 24^th October. Bharat’s festive season, particularly from Dussehra to Diwali, is not just a time of joyous celebrations, but also a significant driver of the nation’s economy. The grandeur of the festivals, the deep-rooted cultural traditions, and the inclusive nature of the celebrations create a synergy that pushes economic growth while fostering social harmony. Despite the obvious benefits, there are those who malign Hindu traditions, portraying them as regressive or anti-scientific. This article will explore how such smear campaigns are misguided, particularly focusing on the economic advantages of these festivals and how they align with Bharat’s soft power and economic strategy.

The Smear Campaign Against Hindu Traditions

Every year, as the festive season begins, we see the emergence of detractors who criticize Hindu traditions. They often accuse these celebrations of promoting superstitions, lacking scientific grounding, and serving no societal purpose. Critics, often driven by ignorance or ideological bias, claim that these festivals are mere remnants of a bygone era, detached from modernity. This smear campaign, however, is not only unjust but fails to recognize the cultural richness and economic importance of these traditions.

Critics paint Bharatiya festivals as a source of environmental harm or as celebrations rooted in blind faith. However, these views largely stem from a superficial understanding of Bharatiya traditions. The reality is that Bharatiya festivals are deeply intertwined with natural cycles, community bonding, and economic activity. From a Marxist perspective, which views society as a superstructure based on its economic foundation, it is essential to recognize that these festivals generate demand and stimulate the economy in ways that far outweigh any perceived drawbacks.

Economic Impact of Festivals

The capitalist economy, which thrives on consumer demand, often sees its fortunes rise or fall based on societal trends. Festivals are an essential part of this cycle, particularly in Bharat, where they significantly impact retail, trade, and investment.

The period from Dussehra to Diwali is marked by an unparalleled surge in consumer spending. Retailers, small and large alike, anticipate a boost during this time. Last year, Bharat’s retail trade during the festive season reached a staggering Rs 5 lakh crore, with expectations of surpassing that in 2024. Such figures underscore the vital role these festivals play in driving the economy forward.

Moreover, Bharatiya festivals promote inclusivity in spending. Whether it’s the purchase of small, handcrafted items during Dussehra or larger purchases of gold and silver during Dhanteras, the range of consumption spans all economic classes. This diversity in consumer behavior means that everyone, from the humble street vendor to high-end retailers, benefits from the economic upliftment that these festivals bring.

Boost to Retail and Trade

Dussehra is celebrated with grand fairs and Ram Leela performances at the grassroots level, which support countless local businesses. Street vendors selling food, handicrafts, and toys, artisans creating festive decor, and small shop owners all benefit immensely. The surge in trade during these festivals is vital for their livelihoods.

Likewise, Diwali, the festival of lights, is associated with the highest retail trade in Bharat. In 2023, the festival season alone saw retail sales touch Rs 3.75 lakh crore. Handicrafts, electronics, garments, and home decor all witness a sharp increase in demand during Diwali. Furthermore, Diwali’s association with the purchasing of gold and silver during Dhanteras boosts the jewelry market, making it one of the most lucrative times of the year for this industry. Last year, the retail trade on Dhanteras alone crossed Rs 33,000 crore, a clear indicator of its significance.

A particularly interesting trend in recent years has been the growing preference for “Made in India” products. The push for locally produced goods has not only strengthened domestic manufacturing but has also reduced dependency on imports, particularly from China. In 2023, the shift towards Bharatiya-made goods led to losses for Chinese manufacturers to the tune of Rs 1 lakh crore. This trend exemplifies how festivals can act as a catalyst for self-reliance and economic sovereignty.

Festival as Soft Power

The celebration of Bharatiya festivals extends far beyond the borders of Bharat. Diwali, for instance, is now a global celebration, observed in major capitals around the world, including the White House. The significance of this cultural export cannot be overstated. By embracing Bharatiya festivals, nations around the world recognize and respect Bharat’s cultural heritage. This acceptance bolsters Bharat’s soft power, allowing the country to project its values and traditions on the global stage.

Bharatiya festivals serve as a cultural bridge, helping the Bharatiya diaspora connect with their roots while also introducing Bharatiya customs to other cultures. Through these celebrations, Bharat sends a message of inclusivity, peace, and prosperity, countering any claims of rigid traditionalism or intolerance.

The Importance of Festivals as Economic Policy Drivers

In addition to their cultural and economic significance, Bharatiya festivals also influence policy decisions. As demand peaks during the festive season, it encourages investors and policymakers to focus on market dynamics. The festivals stimulate various sectors of the economy, from agriculture to manufacturing and services, aligning with broader economic goals.

Take, for example, the rise in investments in Gold Exchange Traded Funds (ETFs). During the 2023 festive season, gold investments surged significantly, driven by the traditional belief in purchasing gold as a symbol of prosperity. This is a testament to how festivals influence market behavior and can play a role in shaping financial policy.

Moreover, the timing of these festivals coincides with the harvest season in many parts of Bharat, meaning that agricultural output increases, and farmers have more disposable income. This cyclical relationship between the festivals and agriculture further reinforces the holistic nature of Bharatiya celebrations, where cultural, economic, and social factors are interdependent.

Conclusion: Festivals as Pillars of Economic Growth and Cultural Heritage

The period from Dussehra to Diwali is much more than a time for celebration. It is a manifestation of Bharat’s rich cultural heritage, its economic vitality, and its global influence. These festivals, far from being regressive or outdated, are intricately woven into the fabric of Bharatiya society. They foster economic growth by driving demand, supporting local businesses, and attracting investments. At the same time, they serve as a potent tool of soft power, enhancing Bharat’s global standing.

The detractors who criticize Hindu festivals fail to see the bigger picture. By focusing on isolated aspects, they ignore the role these festivals play in shaping Bharat’s economic landscape. As celebrations continue to grow in scale and importance, they contribute not only to the prosperity of the nation but also to the well-being of its citizens.

In the end, rather than focusing on baseless criticisms, one should appreciate how Bharatiya festivals bridge the gap between tradition and modernity, contributing to the growth of the economy while preserving cultural heritage. Whether it’s through retail trade, investment growth, or the projection of soft power, these festivals are indispensable to Bharat’s journey forward.