Ramzan, the holy month of fasting and prayer for Muslims, has a significant impact on the Indian economy. From increased sales of food and clothing to a boost in tourism, Ramzan brings a wave of economic activity that benefits various sectors.
Ramadan, the ninth month of the Islamic calendar, is a very important time for Muslims around the world to connect with their God spiritually and to refine their soul. Ramadan has a profound impact on the Indian economy. Since millions of Muslims observe fasts, the demand for many goods and services increases in the market. This increases the vibrancy in the market and the income of the traders.
Food Business
During Ramadan, the demand for food items increases a lot, especially during Sehri and Iftar. Famous food items like dates, kebabs, haleem and sherbet are sold in large numbers.
Clothing Business
Apart from new clothes, many other items are also purchased during Ramadan. Because Muslims start preparing for Eid along with the prayers of Ramadan. Which is a festival celebrated as soon as the fasts of Ramadan end. During this period, a huge surge is seen in the sales of the clothing market. Along with clothes, the sales of perfume, kohl, caps and shoes are also noteworthy. The sales of shopkeepers selling gifts and jewellery also see a significant increase.
Tourism
A large number of tourists come to India during the month of Ramadan, especially in Muslim-populated cities like Delhi, Lucknow and Hyderabad. Hotels, restaurants and tour operators that make arrangements for Muslim tourists and business in the local markets increase manifold, as tourists come to India to experience the unique spiritual atmosphere of Ramadan.
During Ramadan, the increase in business in various sectors not only leads to a huge increase in the income of the people but also leads to an increase in revenue for the government. According to media reports, during this holy month of Ramadan, business worth more than 170 -20 thousand crores takes place across the country. People from abroad also come to Mumbai to celebrate Ramadan. According to a report by Business Standard, Varanasi and Lucknow alone generate business worth more than Rs 400 – 500 crores during the month of Ramzan.
