Ram Temple Opening: The ceremony is also giving jewellers and gold traders a boost.
The opening of the Ram Temple in Ayodhya has sparked a surge in extravagant spending, with wealthy devotees reportedly splurging on private jets, gold-plated idols of Lord Ram, and temple replicas. The invite-only inauguration ceremony, scheduled for January 22, boasts high-profile attendees, including Prime Minister Narendra Modi and business magnate Mukesh Ambani.
Private jet parking lots near Ayodhya are full, with luxury charter services experiencing a surge in demand. Club One Air CEO Rajan Mehra notes the event has become a status symbol, with an estimated 100 private jets expected to descend on Ayodhya. The economic impact extends to jewellers, as gold and gold-plated statues of Lord Ram, priced between ₹30,000 ($361) and ₹220,000 ($2,647), are in such demand that some retailers have run out of stock, with items even imported from Thailand.
The temple’s inauguration is not only a religious event but also a catalyst for economic growth in Ayodhya. Property prices have soared, and Bollywood superstar Amitabh Bachchan’s recent purchase of a $1.7 million plot indicates the city’s emergence as a pilgrimage hotspot. Ayodhya is witnessing a unique blend of economic optimism and emotional attachment as individuals seek to be part of the Ayodhya story, with the temple fulfilling a key campaign promise of PM Modi and the BJP.
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