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Ram Mandir and it’s historical significance
The Ayodhya Ram Mandir is a Hindu temple in Ayodhya, Uttar Pradesh, India. It is dedicated to Lord Rama, a major Hindu deity, and is believed to be built on the site of his birthplace. The temple is considered a significant pilgrimage site for Hindus.
The temple’s history dates back centuries. In the 16th century, Mughal emperor Babur demolished the original temple and built a mosque in its place.
The Babri Masjid was built between 1528 and 1529.
In 1992, the VHP and the BJP organized a rally at the site, which turned violent and resulted in the destruction of the mosque.
The Ayodhya Ram Mandir is one of the largest temples built in India since independence. It is expected to be 161 feet tall and cover 28,000 square feet. The temple’s design was conceived 30 years ago by Ashish Sompura, the son of Chandrakant Sompura.
The Supreme Court ordered the land to be given to a trust to build the temple in November 2019. The temple’s construction is seen as a symbolic victory for the Hindu community, who have been fighting for its construction for decades.
Recent developments and construction progress
As of January 2024, the temple’s ground floor has been completed, and the first and second floors are expected to be completed by December 2024. The temple’s consecration ceremony is scheduled for January 22, 2024, and the entire project is planned to be completed by December 2024.
As of December 2023, the base and six smaller temples that will surround the main temple were almost completed and on track to be finished by January 22, 2024. The first phase of construction will include the completion of five “mandaps” on the ground floor, which will be built with over 160 pillars.
According to government records and officials, the total cost of construction is estimated at Rs 1,800 crore. As of March 31, 2023, the authorities had spent over Rs 900 crore.
Potential increase in tourism to Ayodhya due to the construction of the Ram Mandir
Some say the Ram Mandir’s construction could make Ayodhya a major tourist destination, with millions of visitors annually. The temple’s consecration ceremony is scheduled for January 22, 2024, and the entire project is planned to be completed by December 2024.
According to a spokesperson, the number of tourists visiting Ayodhya has increased from over 2 lakh in 2017 to over 2.03 crores in 2022. In 2023, 6.3% of the total number of tourists who visited UP went to Ayodhya.
Some say the temple’s inauguration could lead to an 8-10-fold increase in tourism and visiting population. Others say the number of tourists visiting Ayodhya is rising, which is increasing demand for lodging.
How increased tourism can contribute to the local economy?
The increased tourism from the Ram Mandir could boost the local economy and create new jobs. The hospitality and tourism sectors could benefit significantly from the increased demand for services like transportation, accommodation, and local businesses.
The economic projections are impressive, with the possibility of generating business worth Rs 50,000 crore annually if each tourist spends a modest Rs 2000 during their stay.
The infrastructure growth in Ayodhya will contribute to economic growth, job creation, and overall positive impact on associated businesses.
The construction of the Ayodhya Ram Mandir is associated with several infrastructure development projects, including:
Roads
Widening roads leading to the temple, and building new roads and river fronts. This includes three key pathways: Shri Ram Janmabhoomi Path, Bhakti Path, and Ram Path.
Ayodhya Railway Station
A Rs 443 crore station inspired by the temple, with domes, pillars, and shikhars. The first phase includes a two-story building, a metal shed, a dormitory, and a food court.
Ramayan campus
A 500–1,000 acre pilgrimage project that will include miniature versions of Ayodhya, Janakpur, Dandakaranya forest, Lanka, the river Ganga, and the sea.
The public works department of the UP government is also undertaking 34 projects worth around Rs 7,500 crore, which includes airports, railways, and highways.
Economic growth in the region
The Ram Mandir’s construction and the surrounding infrastructure development projects can stimulate economic growth in the region by:
Improving infrastructure
The project includes the development of roads, transportation facilities, and amenities for pilgrims. This improves the local infrastructure and creates job opportunities during the construction phase.
Boosting tourism
The Ram Mandir is a major Hindu shrine that will boost tourism in the Ayodhya region. This will create jobs and stimulate economic growth.
Transforming the city
The influx of funding for developmental and infrastructural projects in Ayodhya is a strategic effort to transform the city into a regional growth hub. The investments are expected to enhance tourism, stimulate economic activities, and contribute to overall regional development.
Creating jobs
The state government has prepared a vision document for Ayodhya to create four lakh direct jobs and eight lakh indirect jobs in the city.
Stock Market Impact
1. Larsen & Toubro (L&T):
- Involved in the construction of the Ram Temple.
- Budget of Rs 18,000 crore for the temple.
- L&T has given a 124% return since 2020.
- Look for a healthy pullback for a bullish entry.
2. Praveg:
- Involved in setting up a tent city in Ayodhya.
- Has given a return of 344% since 2023.
- Wait for a correction or pullback before considering entry.
3. InterGlobe Aviation (IndiGo):
- Expected increase in air travel to Ayodhya.
- IndiGo has given a return of 34%.
- Monitor for a pullback before considering an entry.
4. Rail Vikas Nigam Limited:
- Planning to launch Aastha special trains for Ayodhya.
- Has given a return of 137% since 2023.
- Look for corrections as entry opportunities.
5. IRCTC (Indian Railway Catering and Tourism Corporation):
- Planning Aastha special trains for Ayodhya.
- Given a breakout recently.
- Consider for swing trading opportunities after a pullback.
6. Allied Digital Services:
- Awarded the tender for CCTV cameras for security purposes in Ayodhya.
- Currently at a breakout stage.
- Add to watch list and monitor for potential rally.
Remember, it’s crucial to conduct thorough research and consider potential risks before making any investment decisions. Additionally, market conditions can change, so staying updated on news and trends is essential.
The Ram Mandir’s construction could have long-term positive effects on India’s image by:
Economic growth
The temple could catalyze economic growth in Ayodhya and its neighboring regions. This could include tourism, job creation, and infrastructure development.
National pride and identity
The temple could provide a sense of national pride and unite Indians across religious lines. It could also serve as a symbol of India’s cultural heritage and resilience.
Paradigm shift
The building of the Ram temple could bring a paradigm shift in the country.
The temple is believed by many Hindus to be built on the birthplace of Lord Ram, a personification of the victory of good over evil.
The Ram Mandir’s construction is expected to have a positive social impact, including:
Charitable institutions
The temple is expected to attract charitable institutions that will promote social service.
Tourism
The temple is expected to attract millions of devotees from around the world, which will boost tourism and the local economy.
Infrastructure
The temple’s construction is expected to lead to infrastructural improvements that will benefit tourists and pilgrims, and lay the groundwork for long-term economic growth and stability.
Donations
The temple trust launched a campaign to raise funds from 500–600 million people across India, and as of October 2023, it had collected Rs 3500 crore.
Job opportunities
The construction of the temple is expected to provide job opportunities for many people.
Economic activities
The Ram Mandir Construction Committee Chairperson has said that areas around Ayodhya will see an increase in economic activities after the temple’s inauguration.
The Ram Mandir’s construction is also expected to have a significant impact on the social and cultural landscape of India.
May your investments be wise, and may the spirit of progress guide us all.