Business worth Rs 1 lakh crore is expected to be generated with the consecration ceremony of Ram temple in Ayodhya on January 22, traders' body CAIT said on Monday.

The Confederation of All India Traders (CAIT) based its estimate on feedback received from trade associations of 30 cities across different states.

"This event not only resonates with religious sentiments but also brings a surge in economic activities. The faith and trust of people are leading to the creation of many new businesses based on the country's traditional economic system," Praveen Khandelwal, National Secretary General of CAIT, stated.

He said that approximately 30,000 different programmes by trade associations are being organised across the country in view of the Ram temple consecration.

These include market processions, Shri Ram Chowki, Shri Ram rallies, Shri Ram Pad Yatra, scooter and car rallies, and Shri Ram assemblies. Markets are witnessing a high demand for Shri Ram flags, banners, caps, t-shirts, and printed 'kurtas' featuring the image of the Ram temple.

He informed that in the next week, more than 200 major markets in Delhi and a large number of smaller markets will witness Shri Ram flags and decorations.

Delhi will also witness numerous cultural programmes, with folk dancers and singers coming from Vrindavan and Jaipur for performances in many markets, he added.