Buoyant company sponsorships, wholesome footfalls in malls, rising spending on client items and a constructive sentiment amongst individuals are main contributors to the expansion, they stated.
The competition – recognised by UNESCO as an intangible cultural heritage- stays a serious financial driver for Bengal, thriving retail, hospitality, transport and handicraft sectors, and it's usually believed that enterprise actions surrounding the Durga Puja contribute a minimum of a 3rd of the state's GDP.
State Finance Minister Chandrima Bhattacharya instructed PTI that Bengal's Puja financial system will certainly “see sturdy progress this yr”.
“This yr, the puja financial system will certainly witness sturdy progress, however it's tough to place a quantity proper now. I would like to attend till places of work reopen for the factual information,” she stated when requested whether or not she anticipated a progress of round 15 per cent.
State Energy Minister Aroop Biswas stated this yr electrical energy demand could contact 12,050 MW, whereas final yr the competition recorded a peak demand of 9,912.71 MW, indicating greater financial exercise.The state authorities's grant to puja organisers continued, with every of almost 45,000 committees receiving Rs 1.1 lakh this yr.The ministers stated this authorities spending is anticipated to spice up the Durga Puja financial system.
Promoting linked to puja committees noticed a surge in charges, with advert company officers saying spots had been booked properly upfront.
The season additionally grew to become a launchpad for brand spanking new client merchandise for FMCG majors, aided by GST cuts and a revival in demand.
An organisation of group puja committees, Discussion board for Durgotsab, basic secretary Kajal Sarkar stated the general sponsorship market was “superb,” with main golf equipment elevating charges.
“The typical hike was round 15 per cent. A number of large puja committees additionally raised their charges, however they're extra cautious on budgets than final yr,” he stated.
This yr, analysts and trade insiders estimated that the “general puja market could be at Rs 46,000-50,000 crore, marking a turnaround with company homes returning to supply sponsorships, malls posting wholesome footfalls and discretionary spending on client items rising sharply”.
In 2024, Bengal's Puja financial system was estimated at round Rs 42,000 crore, contracting by 20-30 per cent as a consequence of inflation, muted company spending and weak sentiment.
The rape and homicide of a health care provider at RG Kar hospital and widespread agitations forged a shadow on the festive spirit final yr, and companies had been adversely impacted.
Notably, a 2019 British Council report had pegged the Puja-linked inventive industries in Bengal at Rs 32,377 crore.
This yr, nevertheless, organised retailers reported a double-digit progress in income as in contrast with 2024.
This Durga Puja, Acropolis Mall witnessed “glorious turnout and gross sales”, an official stated.
“Retailers reported a double-digit progress over final yr, with jewelry gross sales up almost 25 per cent, footwear 20 per cent, attire 22 per cent and meals and beverage round 18 per cent,” Merlin
Group Company Basic Supervisor (Retail and Hospitality) Subhadip Basu instructed PTI.
An official of South Metropolis Mall stated, “Virtually everybody achieved their targets. Progress has been within the 10-15 per cent vary. The prolonged puja season, with Panchami and Shashti coinciding with the weekend, gave an early begin and boosted gross sales.”
White items and vehicle makers additionally reported sturdy traction, with festive bookings supported by GST cuts and financing schemes.
E-commerce platforms had a blockbuster begin to the festive calendar. Technique advisor Redseer famous that gross sales through on-line platforms within the first two days after the GST rationalisation grew 23-25 per cent year-on-year-a 4 to five-fold bounce in progress in contrast with final yr's muted begin.
Premium smartphones and TVs led the surge, with loyalty members driving document demand, it stated.
However beneath the buoyant figures lies a pointy divide-while organised retail, vehicles and company promoting thrived, hawkers and small merchants stated the season was subdued as a consequence of a shift in spending in direction of e-commerce platforms.
The Nationwide Hawkers Federation stated the season was “very unhealthy,” much like the downturn throughout the Covid disaster.
“On-line companies have eaten 40 per cent of hawkers' earnings. Even small shopkeepers have suffered badly. A single day of rain in Kolkata forward of Durga puja made it worse,” federation president Saktiman Ghosh instructed PTI.
Town confronted unprecedented rain in a single day, which induced a fall in income for small companies.
as a Dependable and Trusted Information SupplyRegardless of the general rise in client demand, hawkers and small merchants stated many of the spending shifted to malls and e-commerce platforms, leaving them excluded from the positive factors of Bengal's largest festive market.
