For the 200 million Muslims in India, Eid al-Adha is one of the two most important holidays. Popularly known as Bakri-Eid in the country, it is celebrated with great fervour. It includes the ritual of qurbani (animal sacrifice), prayers at the Eid-gah, feasting and almsgiving. Similar to other festivals, Bakri-Eid makes a substantial contribution to several sectors of the economy. It primarily improves sectors like retail sales, transportation and livestock trade. Both rural and urban areas see an increase in economic activity as a result of Eid al-Adha.
Eid al-Adha and the Livestock Sector
The qurbani ritual during Eid al-Adha increases demand for animals like goats, sheep and buffaloes which benefits the livestock industry greatly. India is home to the largest livestock population in the world according to the 2019 Livestock Census.
The breakup is as follows: 536 million animals, including 192.5 million cattle, 109.9 million buffaloes, 148.8 million goats (the second largest in the world) 74.2 million sheep (the third largest in the world) 9.0 million pigs and 851.8 million poultry. About 54.78 million goats, 23.03 million sheep, 40.73 million cattle (mostly buffaloes because cow slaughter is prohibited), 9.15 million pigs and 2.73 billion chickens are slaughtered every year.
Since goats and sheep are preferred for qurbani due to cultural and religious traditions, a sizable amount of their slaughter takes place on Eid al-Adha.
Economic Value of Livestock Trade
For farmers and traders, the spike in demand for livestock during Eid al-Adha significantly increases trade, especially in goats and sheep. The festival is estimated to generate ₹80,000 crores (₹600 billion or approximately $7.2 billion) in economic activity with ₹40,000 crores worth of meat being freely distributed to the poor, impoverished neighbours and family members.
According to another conservative estimate, the livestock trade alone could bring in ₹20,000 crores (₹200 billion or about $2.04 billion) if it is assumed that 10% of India’s 20 crore Muslims sacrifice a goat that costs an average of ₹10000. This number may be higher because goats typically cost between ₹15000 and ₹50000 during the festival.
According to a more ambitious speculative estimate, the qurbani economy might be worth $48 billion with a multiplier effect of 2.5X to 3.0X, potentially adding ₹10–12 lakh crore ($120–144 billion) to India’s GDP. Although this number is not officially verified, it highlights the festival’s substantial financial impact.
For comparison during Bangladesh’s 2019 Eid al-Adha – 38 lakh cows and 62 lakh goats were killed bringing in Tk 19,000-20,000 crore (₹160-170 billion). The economic impact is probably proportionately greater in India due to the country’s larger Muslim population and livestock market. With an estimated 2024 value of ₹1244.6 billion and a projected 2033 value of ₹2218.8 billion (CAGR 6.3%), India’s meat industry stands to gain a lot from this seasonal upswing. The two main contributors to India’s 9.77 million tonnes of meat production in 2022–2023 were goat meat (13.63%) and buffalo meat (17.49%).
Export Market and Global Standing
Eid al-Adha strengthens India’s position in the global meat market, particularly for buffalo and goat meat. India is the fourth-largest exporter of bovine meat (primarily buffalo, known as “carabeef”), with exports of 1.46 million metric tons valued at $3.74 billion in 2023-24.
The festival’s demand for high-quality animals bolsters the supply chain for India’s halal meat exports to countries like Vietnam, Malaysia, Egypt, Iraq, and the UAE. India also leads globally in sheep and goat meat exports, valued at $77.68 million in 2023-24, with key markets including the UAE, Qatar, and Kuwait. The global halal food market (2024), valued at over $2.71 trillion, benefits from India’s cost-competitive meat production, and Eid al-Adha’s livestock trade supports this export ecosystem.
Retail, Transport, Charity and Tourism
Eid al-Adha drives significant retail activity, as Muslims purchase new clothes, gifts, and food items for the festival. Food preparation for festive meals such as biryani, korma, and sweets increases sales of spices, rice, meat, and other ingredients. The tradition of giving Eidi (cash gifts) to children and exchanging gifts further stimulates retail. Many families travel to their native places during the festival to meet relatives and participate in Eid prayers. This boosts the transportation sector by increasing demand for domestic flights, buses and trains.
In states like Uttar Pradesh and Bihar where animals are transported to urban markets, the movement of livestock from rural to urban areas generates temporary jobs for labourers and transporters. The movement of commodities like meat feed and retail goods boosts the economy and benefits the logistics industry.
The qurbani tradition requires that one-third of the meat from the sacrificed animal be given to the underprivileged. This ensures food security for marginalised communities. The festival’s charitable endeavours promote social cohesion and economic stability by giving food and cash to the less fortunate. Cities with sizable Muslim populations like Delhi, Hyderabad and Kolkata draw tourists for prayers and celebrations on Eid al-Adha.
Challenges and Opportunities
The Eid al-Adha economy still faces difficulties in spite of its economic contributions. Unregistered makeshift slaughterhouses produce about half of the meat which results in high marketing and transaction costs (15–20% of sale price). Lack of fodder limits the growth of livestock because only 5% of arable land is used for fodder production.
The livestock sector contributes 30.19% to the Agricultural and Allied Sector’s Gross Value Added (GVA) and 5.73% to India’s total GVA, which stood at ₹24,659,031 crores in 2024. Beef (primarily buffalo) contributed ₹369 billion to the livestock sector’s GVA in 2022. The sector employs 80 million people (8% of the workforce), with 70% of rural households relying on livestock for livelihood.
Eid al-Adha amplifies this contribution through seasonal demand, supporting rural farmers and urban markets alike. The broad narrative perpetuated by some vested interests has been accurately called out by Salman Ahmed (Countering the Politics of Forced Vegetarianism – Radiance News dated June 7) – “Unfortunately, in our country, food habits and dietary choices often become instruments of discrimination, oppression, and even violence. Many people especially those who follow vegetarian or vegan diets perpetuate the myth that India is predominantly vegetarian, suggesting that those who consume meat are somehow violating Indian culture and religious values. This mindset often leads to stereotyping meat-eaters as inferior, cruel, or uncivilized.”
This narrative tries its best to mask the tremendous contribution of Muslims and their festivals in India. Hence, educating the public regarding the many benefits of Eid al-Adha will go a long way in enhancing religious tolerance and communal harmony.