Culture-powered Commerce: Impact of Festivals on the Indian Economy 

India’s growth story cannot be understood through macroeconomics alone. Traditional and “created” festivals – of which India celebrates over 300 around the year – mobilize millions of households, MSMEs, artisans, gig workers, and brands in cyclical bursts of economic activity. Spanning consumption peaks, local commerce, credit flow, philanthropy, and cultural continuity, India’s festive rhythm has evolved into a structural economic force. 

This report, co-authored with KGS – An Alliance of ICAI, combines cultural insight with data-driven analysis to decode India’s festival economy and the lessons it offers for governance, business strategy, and inclusive development. 

What This Report Includes 

• Festivals that drive sales surges and why 

• Spending is deeply emotional and ritual-driven 

• Modern celebrations (Valentine’s Week, Mother’s Day, Halloween, New Year) are reshaping India’s trend-led consumption 

• Impact far beyond the economy – labour demand, MSME uplift, region-level economic impacts 

• The Bharathi Management Playbook distils lessons for policymakers, businesses, and institutions 

Who Is This Report For 

• CXOs and Strategy Leaders looking to align commercial strategy with India’s cultural and consumption rhythm 

• CMOs and Retail Leaders are planning seasonal demand cycles, brand storytelling, and festive campaigns 

• Policymakers and Government Bodies seeking to use festivals as instruments of local growth, tourism, and cultural preservation 

• Economists and Market Researchers studying India’s consumption engine and liquidity cycles 

• Investors and Analysts evaluating sectors sensitive to seasonal and sentiment-driven demand 

• Founders and D2C Brands are building product launches, performance marketing, and inventory around festive peaks