Ram Ayodhya: From a holy city to an economic powerhouse in India

Ram Ayodhya

Ram Ayodhya is undergoing a major makeover. How will this religious and cultural milestone impact India’s economy?

Brands jump on the bandwagon for every passing marketing fad, but it’s fascinating how the Ayodhya temple inauguration has inspired innovative marketing initiatives in a Tier-2 city. 

On January 22, the Uttar Pradesh city of Ayodhya hosted many famous people and visitors for the inauguration ceremony of the Ram temple. During the inaugural event, the Ayodhya Development Authority had over 7,000 attendees.

Invites to the event were extended to several prominent businesspeople, including Mukesh Ambani, Ratan Tata, and Gautam Adani. 

Ayodhya has been blessed with an influx of funding from the central and state governments as well as hundreds of individual contributors after the historic 2019 Supreme Court ruling that authorised the construction of Ram Mandir. 

It is expected that there will be a significant boost in Ram Ayodhya’s economy starting January 22. As the city prepares to welcome an increasing number of devotees, businesses are anticipating the possibility of new revenue sources.

Here’s how we think Ram Ayodhya will impact the Indian economy. 

Historical and religious significance of Ayodhya’s Ram Mandir

Ayodhya, a city in northern India, is home to the Ram temple. It is constructed on a controversial plot of land where many Hindus believe the widely worshipped God Ram was born.

After decades of legal disputes, the temple’s inauguration officially establishes the location as a centre of Hindu devotion.

The temple, formally named Shree Ram Janmabhoomi Mandir, is built in the Nagara architectural style, which is popular in northern India. 

The temple is situated on a 2.67-acre plot inside a 70-acre complex, and the first phase of its construction is complete.

The second and last phase might finish in December 2025. All of the projected ₹15 billion for the project came from charitable contributions made by citizens of the country.

How will tourism change in Ram Ayodhya?

The grand opening of the temple is paving the way for a boom in the economy that will benefit not only Ayodhya but every corner of Uttar Pradesh.

In the coming years, Ram Ayodhya is expected to attract 3–4 lakh tourists every day, making it a significant tourist destination on a global scale. 

To accommodate the thousands of visitors who are expected to visit Ram Ayodhya after the opening ceremony, the tourism sector has added up to 20,000 new jobs. 

As more tourists come to Ram Ayodhya, the market for travel and lodging has already gone up.

This has caused a massive spike in the hotel industry there, with a focus on building up suitable facilities to accommodate visitors. 

Several hospitality industry officials have predicted that thousands of positions, including those for managers, servers, chefs, drivers, and logistics specialists, will be open in Ram Ayodhya and the neighbouring cities in 2024–25.

Impact on infrastructure and investment initiatives 

In addition to being a place of worship, Ram Ayodhya also happens to be a city that is set to become an upcoming hub of commerce and opportunities.

The state government of Uttar Pradesh plans to spend 85,000 crore rupees transforming Ayodhya. The renovation would take ten years to complete and be carried out following the Master Plan 2031.

Ram Ayodhya is set to get world-class infrastructure thanks to many transformational initiatives launched by the Indian government, with a combined worth of about ₹11,100 crore. 

With the opening of the renovated Ayodhya Railway Station, the introduction of the Vande Bharat and Amrit Bharat trains, and the completion of the Ayodhya Airport, Ayodhya is taking the necessary steps to become a centre of spirituality and opportunity.

List of recent brand initiatives in Ram Ayodhya 

Many firms have proactively joined the movement in Ram Ayodhya, which has seen a surge in development activity as a result of this remarkable initiative. Some examples include:

Adani Wilmar, a significant player in India’s food and FMCG industries, has announced that it plans to participate in the celebrations marking this historical celebration.

An FMCG division of Reliance Retail, Reliance Consumer Products, is stepping up its game in the state of Uttar Pradesh. There will be a growth in local distribution for brands such as Independence bottled water, Campa carbonated beverages, and Alan’s Bugles snack foods.

The bottled water company Bisleri is increasing distribution along all roads leading to Ayodhya and some of the city’s largest consumption hubs. To meet the increased demand, the company will also open a new facility in Ayodhya in a few months.

In Ayodhya, ITC’s Mangaldeep will launch a “Khushboo Path” by spreading the fragrance. The Shri Ram Janmbhoomi Teerth Kshetra and the Agarbatti brand of ITC have collaborated on several projects to mark the momentous event.

Future of India’s growth with Ayodhya’s development 

Not only are the recent events regarding the Ram Mandir at Ayodhya of historical and cultural importance, but they have also drawn national interest because of what they might mean for India’s economic trajectory.

Ayodhya is giving India the drive to transform into a developed nation, according to Prime Minister Narendra Modi.

The prime minister of India recently said that the country is engaged in digital technologies while also improving its pilgrimage sites.

The number of visitors visiting Ayodhya increased from 325,000 in 2021 to 23.9 million in 2022, according to data from the UP Tourism Department.

Businesses of all sizes are rushing to open their doors, from luxury chains like the Taj, Radisson, and ITC to more affordable options like OYO.

With so many tourists, Ayodhya will become a commercial and economic powerhouse, bringing growth to the entire nation as well.

For example, this year, as a result of the anticipated increase in tourists after the opening of Ram Mandir in Ayodhya, the Indian state of Uttar Pradesh is projected to earn ₹4 lakh crore in revenue.

Conclusion

The inauguration of the iconic Ram Mandir sets the stage for Ayodhya to emerge as a booming religious tourism hub. With investments in world-class infrastructure and amenities, the temple town gears up to host millions of devotees every year. 

With investments worth over ₹11,000+ crore, Ram Ayodhya is set to drive business, generate employment, and accelerate India’s economic development.

DISCLAIMER: This article is not meant to be giving financial advice. Please seek a registered financial advisor for any investments.

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