Ram Temple consecration likely to generate Rs 50,000 crore trade in January: CAIT Traders’ body Confederation of All India Traders (CAIT) said on Thursday that an estimated Rs 50,000 crore worth of business will be generated in January with the inauguration of Ayodhya’s Ram Temple. CAIT Secretary General Praveen Khandelwal said the enthusiasm and excitement around the consecration of the temple on January 22 is historic which will lead people to shop for products related to the temple and Lord Ram. “Traders in all the states have made extensive preparations to meet the demand of this additional trade,” said Khandelwal. “In this context, there is a high demand, especially for models of Ram Temple and these models are being made in different sizes from hardboard, pinewood, wood etc. The noteworthy thing is that a large number of women are getting employment in making these models, while local artisans, artists and hand workers are also getting huge business in all the states,” said Khandelwal and CAIT President BC Bhartia. In addition, earthen lamps, rangoli colours, flowers for decoration and electrical items for lighting the markets and homes are all set to get big business, CAIT said. Also, the service sector is likely to get big business while the promotional material across the country including hoardings, posters, banners, leaflets, other literature, stickers etc. have also been fully geared up for substantial business, it added. The Ram temple will be inaugurated with Prime MinisterNarendra Modi and Uttar Pradesh Chief MinisterYogiAdityanath while over 6,000 people are expected to attend the the consecration ceremony of the Ram Lalla idol. The city’s railway station to be inaugurated by PM Modi on December 30 has been renamed to ‘Ayodhya Dham Junction’, Ayodhya’s MP Lallu Singh said on Wednesday in a post on X. In addition, the Maryada Purushottam Shriram InternationalAirportin Ayodhya will be inaugurated by the Prime Minister on December 30. Subscribe to Financial Express SME (FE Aspire) newsletter now: Your weekly dose of news, views, and updates from the world of micro, small, and medium enterprises
However, that doesn’t take into account the fact that geopolitical tensions on the Middle East are undeniably rising again which will mean limited downside.”
In the U.S., oil drilling rigs were up by one at 501 last week, Baker Hughes said in its weekly report.JPMorgan forecasted 26 oil rigs to be added this year, most of them in the Permian during the first half of the year.
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