Research: Leveraging the cultural and economic value of fairs and festivals in India

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.



Vedatya Institute is an initiative of IIT & the Wharton School alums who wish to replicate their own quality educational experience for the benefit of students in India. It was established with the active support of corporations such as - The Carlson Group - USA and the Edwardian Group, UK. The name Vedatya reflects institute's core values of research driven faculty, world class curriculum, international placements and student orientation. "Ved" in Hindi means knowlege and "Aditya" means Sun. Vedatya therefore is a coined term that means "source of knowledge". The institute was established in the year 2000 as a higher learning institution in India offering internationally recognised undergraduate and postgraduate programmes of study in the professional areas of hospitality and business management. The institute's campus, located on Gurgaon - Sohna road, is fully integrated with academic, recreational and residential facilities for students. Vedatya has an academic partnership with InterContinental Hotels Group (IHG) in the form of an IHG Academy. Vedatya is also the first institute in India to have an internationally branded on-campus training hotel, Holiday Inn. The Vedatya Institute is funded by the Umak Group that has business interests in India's Hotel, Restaurant, Education and Real Estate Industry.

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