‘Kumbh likely to account for 27k cr financial transactions’

Nashik: Simhastha Kumbh Mela is expected to generate economic transactions worth nearly Rs27,000 crore, according to a report prepared by the deAsra Foundation as part of its knowledge partnership with the Nashik–Trimbakeshwar Kumbh Mela Authority (NTKMA).The report estimates that pilgrims attending the religious congregation will collectively spend between Rs8,500 crore and Rs11,000 crore on food, accommodation, local transport and religious purchases. This spending is projected to trigger an indirect economic impact of around Rs 7,830 crore across supply chains, trade and allied service sectors.The report projects an induced economic impact of about Rs 10,530 crore, driven by increased household spending by workers, vendors and businesses benefiting from Kumbh-related economic activities. Together, the direct, indirect and induced impacts are expected to generate a total economic output of around Rs27,000 crore during the event.Officials from the Kumbh Mela Authority said the projections show that every rupee spent directly by visitors has the potential to generate more than double its value in the broader economy. To ensure that this economic opportunity benefits local communities, the deAsra Foundation, in partnership with NTKMA, is developing a comprehensive policy framework focused on strengthening nano and small enterprises. The initiative aims to enable local businesses to meaningfully participate in the Kumbh economy.According to officials, the framework identifies five sectors where local entrepreneurs can capture maximum value — religious retail, food services, accommodation, recreation and local transport. As part of the proposed incentive structure, free skill training will be provided to more than 30,000 individuals.NTKMA commissioner Shekhar Singh said Simhastha represents more than just a religious event. "Our focus is to ensure that this economic activity translates into tangible benefits for local vendors, service providers and small entrepreneurs across all levels," he said. Pradnya Godbole, CEO of deAsra Foundation, said the Kumbh creates a strong multiplier effect. "By preparing nano enterprises to participate across direct, indirect and induced channels, we can ensure that the benefits of this large-scale economic activity are widely distributed and sustained even beyond the event," she said.