Festivals in India are an important part of the lives of its people. Almost every alternate month there is a festival which people celebrate with great enthusiasm and fervor. Festivals play an important role in the cultural development of an individual as well as these fairs and festivals can make an immense contribution to the economic development of a region. They can bring more awareness and economic value to the regions where they are celebrated and hosted.

This research paper by Sandeep Munjal (Vedatya Institute, Gurgaon) and Vinnie Jauhari (Microsoft Corporation, New Delhi), aims to summarize and review the opportunities and challenges that India offers in terms of leveraging the cultural and economic potential of the fairs and festivals.