Kuldip Maity

Wishing everyone a Happy Durga Puja!

Durga Puja is more than a festival. It is a celebration of faith, culture, community and the triumph of good over evil. For millions of people, particularly in Bengal, it is also a time of homecoming, togetherness and renewed hope.

As the familiar sound of the dhaak fills the air, streets light up, and families prepare for celebrations, Durga Puja reminds us of something important: traditions need not belong only to the past. Many of the rituals we observe carry messages that remain remarkably relevant to modern life.

Maha Shasthi marks the ceremonial awakening of Maa Durga through Devi Bodhon. It signifies the beginning of the main festivities and the welcoming of the Goddess.

In today's world, this spirit of welcome can extend beyond religious observances. We live in increasingly diverse communities, where people have different backgrounds, beliefs and circumstances. The true spirit of welcoming lies in making others feel included, respected and valued. Whether at home, in the workplace or within society, inclusion helps create stronger communities.

One of the important rituals of Maha Saptami is Nabapatrika Snan, involving the ceremonial bathing of nine plants associated with the Goddess. This ritual reflects the close relationship between nature and traditional beliefs.

At a time when environmental concerns are growing, its message deserves renewed attention. Conserving water, reducing waste, protecting trees and adopting sustainable practices are no longer optional responsibilities. Our reverence for nature becomes meaningful when reflected in our everyday choices.

Maha Ashtami is among the most significant days of Durga Puja. In some traditions, Kumari Puja honours the divine feminine through the worship of a young girl.

The ritual offers an opportunity to reflect on how society treats girls and women. Respect cannot remain confined to a ceremonial occasion. It must translate into equal access to education, safety, healthcare, financial independence and opportunities.

A society that worships feminine strength should also create conditions in which women can exercise that strength freely.

The sacred Homa, performed during Maha Navami, involves offerings into a consecrated fire. Beyond its religious significance, the ritual can inspire a contemporary reflection on the need to overcome negativity.

Prejudice, intolerance, misinformation and discrimination continue to affect society. Education, empathy and constructive dialogue can help address these challenges. Just as the sacred fire represents purification, our actions can reflect a commitment to becoming more responsible and compassionate individuals.

Durga Puja also supports countless livelihoods. From artisans and decorators to small retailers, food vendors, transport providers and local entrepreneurs, the celebrations generate opportunities across communities. Supporting these enterprises, respecting their work and celebrating responsibly can make the festival more meaningful.

As we welcome Maa Durga, let us also welcome positive change into our lives.

May this Durga Puja inspire us to be more inclusive, environmentally conscious, respectful, compassionate and connected.

Subho Sharadiya!

Continuing our discussion from last week, the importance of the festive period becomes clearer when we look at rural enterprise structures.

India has more than 6.30 crore MSMEs, according to the Ministry of MSME’s 2024 year-end review. These numbers illustrate how deeply small enterprises are woven into rural economic activity.

Unlike a large corporation, a village shopkeeper, artisan, food producer, or garment seller generally has limited working capital. The entrepreneur cannot necessarily manufacture or stock large quantities throughout the year and wait indefinitely for customers.

Festivals change the equation.

A family that postpones buying clothes may purchase them before Durga Puja or Diwali. Homes may be repaired or decorated. Gifts and sweets are exchanged. Religious celebrations generate demand for flowers, food, decorative items and pooja materials. Weddings clustered around auspicious periods add another layer of expenditure.

As demand rises, the opportunity travels through the local economy. A shop may need additional stock. A food business needs more ingredients and packaging. An artisan needs raw materials. A retailer may temporarily require additional hands.

This is where access to working capital can become especially important.

There is another encouraging trend behind this story: rural consumption itself has strengthened.

NielsenIQ reported that rural FMCG consumption growth reached 5.8% in Q4 2023, narrowing the gap with urban growth of 6.8%. By Q1 2024, rural consumption was growing faster than urban consumption for the first time in five quarters; Reuters, citing NielsenIQ, reported rural FMCG volume growth of 7.6%, compared with urban growth of 5.7%.

The trend subsequently proved more persistent. NielsenIQ reported that rural markets were still outperforming urban India in Q1 2025, with rural demand growing at roughly four times the pace of urban demand during that quarter. By Q3 2025, NielsenIQ said rural markets had outpaced urban markets for the seventh consecutive quarter. Small FMCG manufacturers were also expanding faster than overall consumption.

For a micro-entrepreneur, the challenge is not merely knowing that demand will rise. It is being prepared when it does.

A garment seller needs inventory before shoppers arrive. A sweet maker needs ingredients and packaging before orders increase. A handicraft entrepreneur needs raw material well before the festival. A small retailer may need to replenish stock several times during a short selling window.

If funds become available only after the peak has passed, the opportunity may already be lost.

This is one reason microfinance can play an important role in rural enterprise. Timely access to finance can help entrepreneurs purchase inventory, procure raw materials, add equipment or prepare their businesses for periods of higher demand.

When additional festive income is reinvested into stock, equipment, skills or expansion, a few weeks of stronger business can contribute to progress that lasts throughout the year. For rural micro-entrepreneurs, the festive season can therefore be more than the busiest time on the calendar—it can become a window for building the next stage of the business.

Festivals eventually end. Their economic impact need not.

The festive season is fast approaching, and across India, preparations are gathering momentum. Homes, markets and communities are getting ready to embrace the celebrations, bringing with them a familiar sense of joy, colour and anticipation.

For a large section of rural India, the festive season is much more than a period of celebration. It is also one of the most important business periods of the year. From Durga Puja, Dussehra and Diwali to regional festivals, weddings and the year-end celebrations, these months can bring a sharp rise in demand for garments, food, sweets, handicrafts, decorations, gifts, footwear and household goods.

For many micro-entrepreneurs, therefore, the festive calendar is closely linked to the business calendar.

Though it is difficult to establish that most microbusinesses earn the bulk of their annual revenue during festivals, as reliable national data does not measure seasonality at that level, it is safe to assume the pattern for consumer-facing businesses such as retail, apparel, food processing, handicrafts and other local services.

The Confederation of All India Traders (CAIT) estimated that the 2024 festive season generated around Rs 4.25 lakh crore of trade across India. Its study covered 70 major trading centres and considered buying around festivals including Raksha Bandhan, Ganesh Puja, Navratri, Durga Puja, Dussehra and Diwali.

A year later, CAIT estimated ₹5.40 lakh crore in retail trade during the 2025 Diwali season, approximately 25% higher than its 2024 estimate. Significantly for small businesses, CAIT reported that around 85% of the 2025 festive trade came through mainline retail, which includes the traditional, non-corporate marketplace where smaller traders have a substantial presence.

The composition of the 2025 festive business is equally revealing. According to CAIT, grocery and FMCG accounted for 12% of sales, gold and jewellery 10%, electronics and electrical goods 8%, consumer durables 7%, ready-made garments 7%, gifts 7%, home décor 5%, sweets and namkeen 5%, textiles and fabrics 4%, and pooja articles 3%.

These are categories in which thousands of small and micro enterprises participate—as retailers, manufacturers, artisans, distributors and service providers.

But why are we discussing these numbers? Because we cannot talk about the business performance and growth of micro-enterprises while leaving the most dynamic business season aside. Let us discuss the different aspects over the next few weeks.