The GIRI family experienced an extraordinary moment of honour as Honourable Union Finance Minister Smt. Nirmala Sitharaman graced their iconic Mylapore store in Chennai.
Her visit to the 11,000 sq. ft. flagship store near the revered Kapaleeswarar Temple at Mylapore was a testament to India’s enduring spiritual and cultural identity.
Founded in 1951 by V.K. Swarna Gireeshwaran, GIRI Trading Agency has grown from a humble pushcart in Matunga, Mumbai, into one of India’s most respected spiritual retail institutions.
The store offers an expansive range of spiritual books, pooja items, brass idols, devotional music, temple jewellery, and cultural artefacts in multiple languages, serving devotees across generations.
India’s spiritual retail market was valued at approximately USD 65 billion in 2024 and is projected to reach USD 135 billion by 2033, reflecting the nation’s deep, commerce-grade reverence for Bhakti and tradition.
The broader Indian religious and spiritual market is further expected to grow at a CAGR of 10% between 2026 and 2035, reaching USD 167 billion, driven by rising disposable incomes and expanding digital access.
The India incense sticks market alone generated USD 1.3 billion in revenue in 2025, with South India commanding a 46.8% share, underscoring the region’s extraordinary spiritual consumption depth.
Within this booming spiritual products market, large competitors include ITC’s Mangaldeep, Cycle Pure Agarbathies by N. Ranga Rao & Sons, Patanjali Ayurved’s spiritual product lines, alongside Mysore Deep Perfumery House’s Zed Black brand.
Smt. Sitharaman’s unhurried engagement with GIRI’s spiritual books and cultural artefacts reinforced a message every heritage retailer in India deeply needed: authenticity, devotion, and roots are assets, not nostalgia.
Her visit reaffirms that India’s organised spiritual retail sector is no longer peripheral — it is central to the nation’s cultural economy and consumer identity.
Editor’s Note:
When India’s Finance Minister walks into a spiritual bookstore, browses quietly, and leaves inspired, it says something profound about what retail can and should stand for in this country.
GIRI Trading is not merely a store — it is a living archive of Sanatana Dharma, built over seven decades on faith, family, and an unwavering belief that culture is the most durable commerce.
For India’s retail community, this moment is a powerful reminder: heritage brands that stay rooted, serve with purpose, and honour their community will always find relevance — and occasionally, even a minister walking through their aisles.
Discover more from Retail Updates
Subscribe to get the latest posts sent to your email.
