India’s Slowing Economy Hits Hindu Festival Celebrations

For representation purpose only

NEW DELHI, INDIA, October 10, 2019 (CNA video report): A major religious festival in India has seen a tightening of purse strings this year. Durga Puja, a Hindu festival marking the victory of the Goddess Durga over a demon king, is observed in many parts of India. And while celebrations are often grand, budgets this year have been low on the back of a slowing economy. Lavish tents holding intricately designed statues of the Goddess are set up with a budget for each running close to US$1 million. Costs have never been a factor, with millions of devotees visiting the pandals, companies have always had reason to extend sponsorship in exchange for branding and product displays. But, it’s different this year. With the economy at its slowest in six years companies have tightened their purse strings.

View this short TV report at “source” above.