Citation:

Ranjit Kumar Bindhani, Jnana Ranjan Mohanty. "Temple Economy: Unveiling the Major Contribution to India’s GDP" International Research Journal of Economics and Management Studies, Vol. 3, No. 10, pp. 37-44, 2024.

Abstract:

This paper studies the intricate relationship between temples and the Indian economy, shedding light on the significant contributions these religious institutions make to the nation’s Gross Domestic Product (GDP). The first question comes to mind: What is Temple Economics? So simply it will be the economic activity centered around the temple is called temple economics. India’s temples showcase its deep religious and spiritual past. Bharat has approximately 2 million temples, many of which are regarded as locations of enormous faith and miracles, attracting followers from all over the world. So, temples deeply rooted in India’s cultural and spiritual fabric have traditionally been centres of economic activities, fostering local development and influencing the national economy. According to NSSO data, the economics of Hindu temples is valued at Rs 3.02 lakh crore, or almost $40 billion and 2.32 percent of GDP. To sum up, this paper advances our understanding of the nuanced interactions between temples and the Indian economy. Ultimately, the study advocates for an integrated approach that acknowledges the multifaceted contributions of temples to India’s GDP, fostering a holistic understanding of their role in the nation’s economic landscape.

References:

[1] Chandra, Temple Tourism in India: A Study on Economic Impact. Journal of Tourism and Hospitality Management, 7(1), 25-38.
[2] Dr Shankar Subramanian Iyer (2024) Templenomics, The Future of Vibrant Bharat (India), Revista education, ISSN: 0034-8082
[3] Dr. Ranbir Singh “The Contribution of Indian Temples In India’s Economy And Employment: An Analysis”, International Journal for Research Technology and Seminar, 2347-6117 | Volume 24 | Issue 01 | Version 1.5 | Jan-Jun 2023
[4] Dr. Janardhan G Shetty, Prof. Geetha R, Prof. Shruthi N, Prof. Megha K Murthy, Prof. Divya K Murthy, “Analyzing an Impact of Temple Economics on GDP and Creating An Employment Opportunity in Indian Economy”, International Journal for Multidisciplinary Research, E-ISSN: 2582-2160, Volume 6, Issue 4, July-August 2024
[5] Jatin S Bhatia (January 28, 2024), “Temple Economy in India: Driving Local Prosperity and National Progress”
[6] Pankaj Jagannath Jayswal, (2024) Indian Temples: Do they have any economic significance? E-Journal Times Magazine.
[7] Padmaja Vijay Kamat “Temple Economy in Goa: A Case Study” The Macrotheme Review A multidisciplinary journal of global macro trends.
[8] Verma, S., & Kumar, R., Employment Generation through Religious Tourism: A Study of Vaishno Devi Temple in India. Journal of Tourism and Gastronomy Studies, 9(1), 53-64.

Keywords:

Cultural Heritage, Gross Domestic Product, Indian economy, Local Development, Pilgrimage Tourism, Sustainable Management, Temple Economics.