Maha Kumbh is a Maha Blessing for MSMEs: Sectors like transport, FMCG, hotels to get boost: ASSOCHAM

New Delhi : Maha Kumbh Mela at Prayagraj, billed as world’s largest congregations, would be one of the major drivers of consumption demand especially in sectors of specific interest to micro, small and medium enterprises, apex chamber ASSOCHAM has said.

The six -week Mela expected to be visited by 400 million devotees is already witnessing a critical impact not only on economy of Uttar Pradesh but also across different states.

“While clear data is expected to be shared by state and central organizations at the conclusion of the grand spectacle, a visible impact is seen in sectors including transportation – road, rail and air, hotels, restaurants, roadside eateries, construction and maintenance of civic infrastructure amongst others in terms of brisk demand,” ASSOCHAM Secretary General Mr. Manish Singhal said.

He said such gatherings create catalysts also in sectors like Fast Moving Consumer Goods, footwear, winter wear, automobile and telecom. Increased transactions take place across different financial products particularly payment gateways, micro finance in a spiraling way. For instance, devotees may be extended micro finance while eateries would be able circulate funding fast creating a unique economic opportunity.

Lakhs of additional man hours will be utilised amongst cab drivers, hotel staff, construction and maintenance workers, utility and security services, the ASSOCHAM Secretary General said.

“We thank and compliment Prime Minister Shri Narendra Modi and UP Chief Minister Yogi Adityanath for providing inspirational leadership and support for organising such a grand event, leveraging technologies and organizational skills”. It would go down as a case study of its kind.