The inauguration of Ram Mandir at Ayodhya by Hindu devotees across the globe has created a conducive business climate and attracted Indian industries to invest. The Rs 85,000 crore makeover will also change the ancient holy city into a global religious capital that brings in with it massive economic goodwill.
Following years of struggle, the newly constructed Ram Temple is showing signs of being a source for catapulting some 240 million people in Uttar Pradesh state into the limelight.
It could be the government-engineered infrastructure drive that is transforming Ayodhya, the holy city into a contemporary spiritual tourism center or one of many major companies that have discerned commercial opportunities; no matter what times are preparing Ram Mandir as a catalyst to take 240 million people strong Uttar Pradesh state on the global stage.
Whether it is the governmental program aimed at transforming the spiritual hub and holy city of Ayodhya into a modern tourism center or business opportunity discovered by various worldwide leading corporations, times are changing for this metropolis located in Northern Uttar Pradesh.
Dalal Street also got the religious touch as retail investors lifted their mood for certain companies that are related to Ayodhya Ram Mandir including Allied Digital Services, Thomas Cook, IndiGo, and Easy Trip Planners during September-December. Ayodhya-based Pakka Ltd has risen more than 150% so far this month.
Analysts at Jefferies in a note said demand for FMCG, consumer staples, and quick service restaurants will be significant due to the anticipated influx of tourists and new residents. It is also set to result in an increased appetite for both local and global interconnectivity that the aviation, and railways industries as well as ancillary service providers will benefit from.
Brands ready their arsenal
Estimates put the ratio of residents to tourists at 1:10 in Ayodhya which represents the fact that it holds a potential for pilgrimage.
Taking advantage of the sudden surge in demand that is expected to rise even further into the future, leading brands from consumer verticals have spared no effort with lasers on visibilities for their products. Firms have partnered with shops and ‘dhabas’ around major cities of Uttar Pradesh such as Lucknow, Gorakhpur, and Varanasi to display their brands.
While adopting the temple theme, Coca-Cola replaced its popular red color branding with darker shades and installed at least 50 vending machines in different shops.
To promote the Hajmola brand, Dabur has tied up with dhabas on highways of Uttar Pradesh; it also took other measures to focus its hair oil and tea products.
The consumer arms of Reliance Industries have made various efforts to market its Campa soft drinks, Alan’s Bugles snacks, and Independence line. The company also plans to give away free ‘Independence’ water only for devotees in Ayodhya.
Gautams Adani-backed institute has partnered with dhabas and is peddling its Fortune brand through over 100 hoardings and kiosks and around ten snack shops, as recently reported by ET newspaper.
In the weeks leading to its inauguration, Ram Mandir witnessed increased traction among traders and small business owners in India involved with manufacturing earthen lamps, saffron-colored Ramnami flags pennants, etc. A fast response from trade associations in 30 cities of the states reveals that business up to Rs lakh crore would be generated due to the consecration ceremony as per the Confederation of All India Traders.
