Ethical Investing and ESG Mutual Funds: Lessons from Dharmic Finance Principles

Abstract: Festivals play an important role in human life as they develop socialization and feeling of oneness. Festivals also boost up the economy especially with reference to Indian society as it increases customers spending, manufacturing, tourism and many other commercial activities. Festivals gear up the economy at rural, national and international trade resulting in various economic positive impacts. This paper is an attempt to study the economic development due to various festivals like Diwali, Eid, Christmas, etc., on the country like India which has cultural diversity fostering various business sectors. It was found that various studies were made considering a particular region or festival but rarely any attention was given to a comprehensive approach for the overall economic impact of the festivals. By incorporating case studies, it is an attempt to highlight the financial surge observed during the festive seasons, the initiatives taken by the government at local, state, national and international levels, the opportunities and the challenges associated with various festivals considered for the study.