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The country’s cultural economy can become the backbone of India, figures suggest

Sagar Patel

By Sagar Patel

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India has had a very glorious past. There was a time when India contributed more than 25 percent of the world’s GDP. India’s hold on world trade was around 28 percent. Being an economic powerhouse for many centuries, India has led in every sector, be it art or culture, music, dance, food, festivals, architecture or crafts. The contribution of Indian civilization or rather Indian culture to the world heritage has been unmatched. Now, in this modern era, the civilization and culture of this country are getting linked with the economy of the country. Which can become the backbone of the country in the coming days. Let us try to understand this with some figures.

How many jobs will be created by the cultural economy?

BJP National Economic Affairs Spokesperson Gopal Krishna Agarwal said at the Maitri Cultural Economy Summit 2024 that there is a deep connection between culture and economy. We can use our cultural wealth to boost India’s economy. Cultural economic governance has great importance at the level of policy formulation and its execution. The cultural sector provides direct employment to around 45 lakh people as artisans, artists, tourist guides, etc. Besides, traditional arts and crafts industries provide employment to around 60 lakh people. On the other hand, Union Minister Arjun Ram Meghwal said that India’s cultural economy began with our Vedas and Puranas. Our culture will play an important role in taking the country’s economy to Rs 5 trillion. At the same time, Maitribodh Parivar Dadashri said that coordination between culture and economy is the basis of sustainable development. We envision a future where spiritual and economic prosperity go hand in hand.

Rs 1.80 lakh crore contribution from film industry

According to a report by the Ministry of Rural Development, only 10 per cent of rural artisans have access to formal training programmes. It has been estimated that capacity building initiatives in the cultural sector can increase the productivity and revenues of cultural enterprises by 20-30 per cent. A survey by UNESCO found that 70 per cent of traditional artisans feel that their skills are not in line with current market demand. The Indian film industry alone contributes approximately Rs 1,80,000 crore annually to the economy. In the US, yoga has become a business worth US$ 15 billion annually. It has now become very important to connect it with the Indian economy.

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The economy benefits from temples and festivals

The Ram temple construction and renovation project in Ayodhya, which cost over Rs 85,000 crore, will be completed by 2031. Due to which around 3 lakh pilgrims will be able to travel through the city every day. Before the renovation, the Kashi Vishwanath temple used to have 20,000-30,000 visitors every day. After the improvements, the daily number of visitors increased to 1.5-2 lakh. Festivals in India are estimated to bring in Rs 2 lakh crore annually. According to a CII report, Kumbh Mela in 2019 generated a business of over Rs 1.2 lakh crore, while the state of UP had to spend only Rs 4,200 crore on its organisation.

Sagar Patel

Sagar Patel

I am Sagar Patel, specializing in business news reporting. With a keen focus on economic trends, market analysis, and corporate developments,

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