Karva Chauth is a traditional festival celebrated mostly by married Hindu women for their spouses.
The Karva Chauth festival, scheduled for tomorrow, is projected to generate an estimated Rs 22,000 crore in business across India, a notable increase from last year's figure of over Rs 15,000 crore. This surge shows the festival's growing economic significance alongside its cultural and religious importance.
Karva Chauth is a traditional festival celebrated across several parts of the country, mostly by married Hindu women, who fast to pray for the longevity of their spouses. The figures demonstrate that it has now become a major economic event.
Praveen Khandelwal, Member of Parliament from Delhi's Chandni Chowk, highlighted the alignment of this year's Karva Chauth with Prime Minister Narendra Modi's "Vocal for Local" initiative, encouraging the use of domestically produced goods.
In the lead-up to the festival, markets nationwide have experienced heightened consumer activity. People across cities have flocked to markets, to purchase a range of items associated with the celebration, including- jewellery, ethnic attires, cosmetics and puja essentials. Popular items include red glass bangles, anklets, toe rings, lockets, and intricately designed Karva thalis. This year also sees the introduction of silver Karvas to the market, which is expected to be in high demand.
In Delhi alone, sales are expected to reach approximately Rs 4,000 crore, potentially setting new records for this occasion. The markets reflect not only the enthusiasm of women preparing for the fast on Karva Chauth but also an increasing number of men who are now participating in the observance.
Mehendi, or henna application has also seen a marked increase in popularity during this festive period with artists setting up stalls in prominent locations such as Connaught Place's Hanuman Temple in Delhi.
The economic implications of Karva Chauth allegedly extend beyond immediate retail activity. The festival serves as an early indicator for the upcoming wedding season, beginning in November, prompting many consumers to place orders for gold jewellery.
Mr Khandelwal noted the cultural shift as more men choose to observe the fast alongside their wives indicating a changing dynamic in marital relationships within the Indian society.