By Ajay Shah, Mahottari, Oct. 16: Increased shopping during Dashain has stimulated economic activity across Madhes Province and the country as a whole, bringing markets to life.
Trade has increased in everything from daily essentials and clothing to jewellery, electronic appliances and vehicles. The hotel, restaurant, transport and tourism sectors have also felt the positive impact of the festive season.
Markets in major cities across the country, including Janakpurdham, the capital of Madhes Province, have seen a rise of shoppers purchasing goods for the festive season.
Markets around Shiva Chowk, Ram Chowk, Murali Chowk and Janaki Chowk in Janakpurdham have become particularly busy. Traders have introduced discounts and promotional gifts to attract customers.
Economic activity associated with the festive season begins with Teej after the Saune Sankranti and continues through Dashain, Tihar and Chhath. Traditions of gathering with family members and relatives, enjoying special meals, wearing new clothes and receiving blessings from elders help increase consumer spending during this period.
Sanjay Sah, who has been teaching economics in Janakpurdham for many years, said household expenditure rises during festivals, while businesses introduce various discount schemes. According to him, commercial activities organised around Dashain, Tihar and Chhath increase demand for goods and services.
Surendra Bhandari, president of the Janakpurdham Chamber of Commerce and Industry, said festive-season trading makes a significant contribution to the annual business cycle. He noted that consumers are increasingly waiting for festive discounts before purchasing furniture, electronic goods and other durable products.
Internet service providers, telecommunications companies, hotels, restaurants and travel agencies also introduce packages tailored to the festive season.
CA Pramod Sah, president of the Confederation of Nepalese Industries, Madhes Province chapter, said economic activity gains momentum during Dashain, Tihar and Chhath as both income and expenditure increase.
According to him, the circulation of money in the market rises because employees receive their salaries and additional festive allowances, while members of the public spend money saved throughout the year.
Festive allowances received by government and private-sector employees, remittances sent by Nepalis working abroad, and shopping in rural areas also help boost market demand. As more Nepalis living overseas return home to celebrate the festivals, public transport, air travel and hotel businesses experience increased demand.
Bijay Kumar Sah, president of the Nepal Chamber of Commerce’s Madhes Province chapter, said demand for daily essentials rises during festivals, expanding commercial activity.
“During Dashain, people working in both the government and private sectors receive festive allowances in addition to their salaries. Their spending increases shopping activity in the markets,” he said. He added that the festive season helps revitalise an otherwise sluggish economy.
Deepak Karki, president of the Bardibas Chamber of Commerce and Industry, said that trading in the period leading up to Dashain alone can be equivalent to business conducted over the other ten months of the year.
According to Karki, discounts and various attractive promotional offers also contribute to the festive atmosphere in markets. The
growing tendency to spend makes this period particularly important for traders, who can earn profits that help sustain their businesses throughout the year.
Discounts on new vehicles, loans at preferential interest rates and instalment payment facilities are also announced during the festive season, influencing consumer’s purchasing decisions. The expansion of online shopping has increased activity in digital commerce alongside traditional markets. Remittances from Nepalis working abroad are an important pillar of the country’s economy. During the festive season, money sent home to cover household expenses, consumption and other needs further supports market demand.
According to Nepal Rastra Bank, remittance inflows reached Rs. 215.05 billion in the first month of the current fiscal year, an increase of 21.2 per cent compared with the same period in the previous year.
Markets across all eight districts of Madhes Province have experienced increased festive activity. In Janakpurdham, fair-price markets operating from Dashain through Chhath have provided consumers with opportunities to purchase a variety of goods in one location. Increased sales of local and national products are also expected to benefit small businesses and producers.
How did you feel after reading this news?