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Indian Religious and Spiritual Market Report Overview
The Indian religious and spiritual market reached a value of USD 64.42 Billion at 2025 and is projected to expand at a CAGR of around 10.00% during the forecast period of 2026-2035. With India's vast and devout population sustaining demand across religious tourism, temple donations, religious media, devotional merchandise, and spiritual construction and infrastructure, growing digital access to religious content and services, and government investment in pilgrimage site development under national religious tourism programmes, the market is expected to reach USD 167.09 Billion by 2035.
Key Market Trends and Insights
- North India is expected to record a CAGR of 11.0% over the forecast period.
- The Hinduism segment is expected to exhibit a CAGR of 10.5% over the forecast period.
- Religious tourism is anticipated to register a CAGR of 11.5% during the forecast period.
Market Size & Forecast
- Market Size in (2025): USD 64.42 Billion
- Projected Market Size in (2035): USD 167.09 Billion
- Compound Annual Growth Rate (CAGR) (2026-2035): 10.00%
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| Indian Religious and Spiritual Market Report Summary | Description | Value |
| Base Year | USD Billion | 2025 |
| Historical Period | USD Billion | 2019-2025 |
| Forecast Period | USD Billion | 2026-2035 |
| Market Size 2025 | USD Billion | 64.42 |
| Market Size 2035 | USD Billion | 167.09 |
| CAGR 2019-2025 | Percentage | XX% |
| CAGR 2026-2035 | Percentage | 10.0% |
| CAGR 2026-2035 - Market by Region | South India | 11.2% |
| CAGR 2026-2035 - Market by Religion | Islam | 12.9% |
| CAGR 2026-2035 - Market by Distribution Channel | Online | 16.5% |
| Market Share by Region 2025 | West India | 27.8% |
Key Trends and Recent Developments
The Indian religious and spiritual market is experiencing robust expansion driven by large-scale pilgrimage events attracting unprecedented devotee numbers, government infrastructure investment in religious tourism destinations, digital platform proliferation enabling online darshan and donation services, and rising devotional merchandise and media consumption. Temple trust administrations are professionalising their operations, expanding welfare activities, and investing in visitor experience improvements, while the pilgrimage travel and online religious services segments are growing rapidly as accessibility to spiritual experiences broadens across income groups and geographies.
The Shri Mata Vaishno Devi Shrine Board (SMVDSB) approved a series of landmark initiatives at its board meeting chaired by Jammu and Kashmir Lieutenant Governor Manoj Sinha in February 2026, aimed at transforming the Mata Vaishno Devi Shrine into one of India's most globally recognised spiritual destinations. Key initiatives approved include the establishment of an international museum dedicated to Maa Shakti's spiritual heritage, a state-of-the-art sound-and-light show inspired by global pilgrimage sites, and the production of a comprehensive documentary on the shrine. Pilgrim insurance coverage was also enhanced from INR 5 lakh to INR 10 lakh per pilgrim, and a committee was constituted to recommend strategies for expanding pilgrimage numbers and the overall visitor experience.
The Shri Saibaba Sansthan Trust, Shirdi recorded an influx of over eight lakh devotees during the nine-day Shirdi Festival held over the Christmas and New Year period, with total donations amounting to approximately INR 23.29 crore for the festival period in January 2026. Of the total donations, INR 10.18 crore were received through online digital channels including debit/credit cards and demand drafts, reflecting the trust's success in expanding digital donation adoption. Devotees also offered 293.91 grams of gold valued at approximately INR 36.38 lakh and 5.98 kg of silver, along with a gold and diamond-studded crown weighing 655 grams valued at approximately INR 80 lakh on New Year's Day.
Tirumala Tirupati Devasthanams (TTD) recorded its highest single-month Hundi (donation box) collection of the year at INR 130 crore in July 2025, contributing to a record annual total of INR 1,420 crore in Hundi income for the fiscal year 2025-26. The annual Hundi income represented an increase of INR 75 crore over the previous financial year's figure, maintaining the strong growth trajectory of India's wealthiest and most visited Hindu temple complex. TTD's diverse revenue base including Hundi collections, interest income on deposits of over INR 18,000 crore, prasadam sales, and darshan tickets collectively generated total revenue of approximately INR 5,258 crore in the budget estimate for fiscal 2025-26.
Mahakumbh 2025, held at Prayagraj, Uttar Pradesh, from January 13 to February 26, 2025, drew over 660 million (66 crore) devotees to Triveni Sangam, establishing the unprecedented event as the largest religious gathering in human history and earning three Guinness World Records. The event generated extraordinary economic activity across religious tourism, hospitality, transportation, retail, and food services sectors in Uttar Pradesh and surrounding states. Religious travel platforms including Yatra Online facilitated pilgrim accommodation and tour bookings, while devotional merchandise and prasadam vendors reported record sales volumes. The Indian government estimated the economic impact of Mahakumbh at billions of dollars in contributed activity.
Digital Spiritual Platforms Growth - Online Darshan, e-Pooja, and Digital Donations Expanding Market Reach Across Demographics
Digital Spiritual Platforms Growth: India's Indian religious and spiritual market is expanding rapidly through digital service adoption, with online darshan portals, e-pooja booking systems, digital donation platforms, and religious content streaming services reaching devotees who cannot visit shrines in person. Temple trusts including TTD, SMVDSB, and Shri Saibaba Sansthan have invested in digital infrastructure enabling online seva booking, e-Hundi donations by credit/debit card, and virtual darshan access for devotees globally. Online service providers including Rgyan, Templefolks, and Kalpnik Technologies are building platform businesses serving devotees with religious content, virtual puja services, and spiritual e-commerce offerings.
Government Pilgrimage Infrastructure Investment - National Religious Tourism Programme Driving Temple Connectivity and Facility Upgrades
Government Pilgrimage Infrastructure Investment: India's central and state governments are investing substantially in pilgrimage infrastructure through programmes including PRASAD (Pilgrimage Rejuvenation and Spiritual Augmentation Drive) and HRIDAY (Heritage City Development and Augmentation Yojana), which are funding connectivity improvements, accommodation facilities, sanitation infrastructure, and digital visitor management systems at major religious destinations. The religious and spiritual market is benefiting from improved accessibility at key pilgrimage sites, with expanded road and rail connectivity to destinations such as Ayodhya, Kashi, Vaishno Devi, Tirupati, and the Char Dham circuit attracting growing numbers of first-time and repeat pilgrims.
Religious Media Consumption Growth - Devotional Music, TV Channels, and Streaming Platforms Expanding Spiritual Content Market
Religious Media Consumption Growth: India's devotional media segment is experiencing strong growth driven by rising consumption of spiritual music, religious television programming, and online spiritual content. T-Series' Bhakti Sagar channel is one of the most-subscribed devotional music platforms on YouTube, generating significant streaming revenue from devotional bhajan and arati content. Dedicated religious television channels including Sanskar Info TV and Vedic Broadcasting Limited maintain large viewership bases among India's devout population, while OTT platforms are expanding their spiritual content libraries. Devotional content consumption has been further accelerated by smartphone penetration in rural India enabling first-time digital access to religious media.
Religious Merchandise and Agarbatti Sector Expansion - Devotional Products Market Growing with Rising Household Spiritual Practice
Religious Merchandise and Agarbatti Sector Expansion: India's devotional merchandise sector, including agarbatti (incense sticks), idols, puja accessories, flowers, garlands, candles, and religious literature, is growing steadily with rising household income levels, urbanisation, and the persistence of daily devotional practice across India's large Hindu, Muslim, Sikh, and Christian populations. ITC Limited's agarbatti and incense business under its Agarbatti division and the broader organised sector including Moksh Agarbatti are benefiting from formalisation of the previously fragmented devotional products market, growing demand for premium and branded devotional items, and export opportunities in the Indian diaspora market.
Religious Tourism Recovery and Expansion - Domestic Pilgrimage Travel Reaching Record Volumes Across Major Shrine Destinations
Religious Tourism Recovery and Expansion: India's domestic religious tourism segment has recovered strongly and reached new highs, with major pilgrimage destinations including Tirupati, Shirdi, Vaishno Devi, Vrindavan, Amritsar, and the Himalayan Char Dham circuit recording robust annual visitor numbers. Yatra Online Limited and other religious travel platforms are capitalising on growing pilgrim interest in managed package tours combining accommodation, transport, and darshan booking services for both domestic and NRI pilgrims. Government investment in Ayodhya's temple city development and broader PRASAD programme infrastructure is creating new high-capacity pilgrimage destinations that are expanding the overall religious tourism market size.
Indian Religious and Spiritual Industry Segmentation
The Expert Market Research's report titled “Indian Religious and Spiritual Market Report and Forecast 2026-2035” offers a detailed analysis of the market based on the following segments:
Market Breakup by Religion
- Hinduism
- Islam
- Sikhism
- Buddhism
- Christianity
- Others
Key Insight: Hinduism dominates the Indian religious and spiritual market, accounting for the largest share driven by the religion's adherence among approximately 1.1 billion Indians representing 94% of the world's Hindu population, and the extraordinary economic activity generated by Hindu pilgrimage sites, temple donations, devotional media, and ritual merchandise. Key Hindu pilgrimage destinations including Tirumala Tirupati, Shirdi, Vaishno Devi, Vrindavan, Kashi, and Prayagraj collectively generate tens of thousands of crore rupees annually in religious tourism, donation, and merchandise revenue. Sikhism is the fastest-growing major religion segment in market value terms, driven by expanding gurdwara donation volumes, Sikh pilgrimage tourism, and the global Sikh diaspora's increasing financial engagement with Indian religious institutions.
Market Breakup by Income Source
- Religious Tourism
- Donations
- Media and Music
- Religious Items and Merchandise
- Construction and Infrastructure
- Others
Key Insight: Religious tourism is the dominant and fastest-growing income source in the Indian religious and spiritual market, driven by the country's unparalleled density of major pilgrimage destinations across all faiths and the growing propensity of India's rising middle class to undertake both domestic and international spiritual travel. Annual pilgrimage footfall at major destinations generates substantial economic activity across hotel, transport, food service, and retail sectors, with dedicated religious travel packages from operators including Yatra Online and Tour My India capturing growing share of this market. Donations represent the second-largest income source, with major temple trusts including TTD and Shri Saibaba Sansthan collecting thousands of crore rupees annually through Hundi offerings, digital donations, and endowment giving.
Market Breakup by Distribution Channels
- Direct from Religious Places
- Retail
- Online
Key Insight: Direct distribution from religious places dominates the Indian religious and spiritual market, with temple, mosque, gurdwara, and church premises serving as the primary points of transaction for darshan fees, prasadam sales, seva bookings, and donation collection. Major temple trusts including TTD, which operates dedicated prasadam counters, accommodation facilities, and service booking points at Tirumala, generate the majority of their revenue through direct channels at the shrine complex. Online distribution is the fastest-growing channel, with temple trust digital portals, religious e-commerce platforms, and devotional media streaming services rapidly expanding access to spiritual goods and services for India's growing digitally connected population.
Market Breakup by Region
- North India
- East and Central India
- West India
- South India
Key Insight: North India leads the Indian religious and spiritual market, anchored by the extraordinary concentration of major Hindu, Sikh, Buddhist, and Islamic pilgrimage destinations across Uttar Pradesh, Uttarakhand, Delhi NCR, Jammu and Kashmir, and Punjab. Uttar Pradesh hosts Prayagraj (site of the Mahakumbh and Kumbh Melas), Kashi (Varanasi), Mathura, Vrindavan, Ayodhya, and other iconic Hindu pilgrimage centres that collectively attract hundreds of millions of annual visitors. The Vaishno Devi shrine in Jammu and Kashmir, Golden Temple in Amritsar, and Haridwar-Rishikesh Char Dham circuit further reinforce North India's dominance in the religious tourism market. South India is the second-largest religious and spiritual market, home to Tirumala Tirupati Devasthanams, the world's most visited religious site by daily footfall.
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Indian Religious and Spiritual Market Share
By Religion, Hinduism dominates the market due to its adherence among the overwhelming majority of India's population and the extraordinary economic scale of Hindu pilgrimage, temple, and devotional activity
Hinduism's dominance in the Indian religious and spiritual market reflects the religion's deep integration into daily economic life across all income segments and geographic regions of India. The economic ecosystem of Hinduism encompasses over 2 million temples in India, with the largest institutions including TTD, Shri Saibaba Sansthan, and Sree Padmanabha Swamy Temple Trust collectively managing assets and annual revenues in the thousands of crore rupees. TTD's fiscal 2025-26 budget estimate of approximately INR 5,258 crore in total revenue makes it one of the largest managed religious institutions globally, providing free meals to 70,000 pilgrims daily and running hospitals, schools, and cultural programmes.
Islam represents the second-largest religion segment in the Indian religious and spiritual market, with approximately 200 million Muslim adherents in India generating significant religious market activity through mosque-based charitable giving (zakat and sadaqah), Hajj and Umrah pilgrimage expenditure, and the Waqf board-managed property and charitable endowment ecosystem. The growing Indian Muslim middle class is increasing per-capita religious expenditure and participating more actively in Islamic financial products, charitable foundations, and religious education. Sikhism's market share is characterised by exceptionally high per-capita religious spending, with the Sikh community's tradition of langar (community kitchen) service and gurdwara donation generating substantial charitable economic flows through institutions including Akal Takht and the SGPC.
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By Income Source, religious tourism is the dominant revenue driver due to the extraordinary scale of pilgrimage activity and the economic multiplier effect of mass pilgrimage events
Religious tourism's dominance in India's religious and spiritual market is illustrated by the scale of pilgrimage events such as Mahakumbh 2025, which drew over 660 million visitors to Prayagraj and generated an estimated economic impact of billions of dollars across accommodation, transport, food, and merchandise sectors. India's 50-plus major pilgrimage destinations across all faiths collectively receive hundreds of millions of annual visits, generating revenues from darshan fees, accommodation, guided tours, prasadam, and retail spending. The Indian government's PRASAD scheme investment in pilgrimage infrastructure, combined with state government tourism department programmes, is systematically upgrading the experience and capacity of major religious destinations to accommodate growing domestic and international pilgrimage demand.
Donations represent the second-largest and structurally significant income source in the Indian religious and spiritual market, with India's tradition of tirtha dana (donation at pilgrimage sites) generating enormous volumes of cash, gold, and silver offerings at major temples and shrines. The digitisation of donation channels through e-Hundi portals, payment gateway integration, and QR code payment acceptance at shrines is expanding donation accessibility and increasing total collection volumes. Shri Saibaba Sansthan Trust's fiscal 2024-25 revenue exceeded INR 850 crore, while TTD's annual Hundi income of INR 1,420 crore in fiscal 2025-26 demonstrates the extraordinary financial scale achievable by well-managed major shrine trusts.
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Indian Religious and Spiritual Market Regional Analysis
North India leads the market due to the extraordinary concentration of major pilgrimage destinations across Uttar Pradesh, Uttarakhand, Punjab, and Jammu and Kashmir
North India's leadership in the Indian religious and spiritual market is grounded in its unmatched density of iconic pilgrimage centres that attract devotees from across India and the global diaspora. Uttar Pradesh alone hosts the Mahakumbh (held every 12 years at Prayagraj), Kashi Vishwanath temple in Varanasi, the Mathura-Vrindavan Krishna pilgrimage circuit, and the Ram Mandir in Ayodhya, collectively representing the highest concentration of major Hindu religious sites in any single state. The February 2026 initiatives approved by the Vaishno Devi Shrine Board for Katra exemplify the continued investment being made in North India's pilgrimage infrastructure to enhance the spiritual, cultural, and experiential offerings for the millions of devotees visiting each year.
South India is the second-largest regional market in the Indian religious and spiritual economy, anchored by the Tirumala Tirupati Devasthanams complex in Andhra Pradesh, which operates the world's most visited Hindu shrine with over 100 million devotees annually. TTD's total budget of over INR 5,000 crore and assets worth approximately INR 3 lakh crore make it the largest temple trust administration globally. Tamil Nadu with over 79,000 registered temples, Kerala's Padmanabha Swamy Temple Trust wealth, Karnataka's sacred sites including Udupi Krishna temple and Dharmasthala, and Andhra Pradesh's temple circuit collectively sustain South India's position as the most spiritually and economically productive regional religious market in India.
Leading Companies in the Indian Religious and Spiritual Market
The Indian religious and spiritual market has a unique competitive structure defined by the dominant role of government-supervised or autonomously managed religious trust bodies that control the major shrine and pilgrimage destinations, alongside a growing base of private-sector operators in media, travel, merchandise, and online services. Leading temple trusts compete for devotee footfall and donor engagement through facility quality, digital accessibility, and the breadth of seva and welfare programmes they offer. Private-sector participants compete on service quality, pricing, and digital innovation across religious travel, devotional content, and spiritual e-commerce segments.
Tirumala Tirupati Devasthanams (TTD)
Tirumala Tirupati Devasthanams (TTD) is the statutory body managing the Sri Venkateswara Temple at Tirumala, Andhra Pradesh, which receives the highest daily footfall of any religious site in the world. TTD manages a budget of over INR 5,258 crore, holds fixed deposits exceeding INR 18,000 crore, and oversees welfare activities including feeding over 70,000 pilgrims free meals daily, operating hospitals, running Veda Patashalas for scriptural education, and funding temple renovation programmes nationwide. TTD's record Hundi income of INR 1,420 crore in fiscal 2025-26 reflects the continued deep financial engagement of India's Hindu devotee population with the Tirupati institution.
Shri Saibaba Sansthan Trust
Shri Saibaba Sansthan Trust, headquartered in Shirdi, Maharashtra, manages the Shri Saibaba Samadhi Mandir, one of India's most visited pilgrimage destinations attracting over 80,000 daily visitors on average and significantly more during major festival periods. The trust reported annual revenue of over INR 850 crore in fiscal 2024-25, funding extensive charitable activities including free meal service at Shri Sai Prasadalaya, hospitals, educational institutions, and orphanages. The trust's digitisation of donation and seva booking services has been successful in expanding digital payment adoption among its large and geographically diverse devotee base.
Tirumala Tirupati Devasthanams
Shri Mata Vaishno Devi Shrine Board (SMVDSB), headquartered in Katra, Jammu and Kashmir, manages India's most visited North Indian pilgrimage destination, the Mata Vaishno Devi Shrine atop Trikuta Hills, which attracts approximately 70-90 lakh pilgrims annually. The board's February 2026 approval of the Shakti Museum, sound-and-light show, and documentary initiatives positions the Vaishno Devi shrine for significant product innovation and visitor experience enhancement. SMVDSB's infrastructure investment programme includes yatra track widening, new Bhawans, skywalk construction, and digital visitor management systems to manage growing pilgrimage demand.
Sree Padmanabha Swamy Temple Trust (SPST)
Sree Padmanabha Swamy Temple Trust (SPST) manages the Sri Padmanabhaswamy Temple in Thiruvananthapuram, Kerala, which houses one of the world's largest known temple treasures estimated in excess of USD 20 billion in historical valuations, making it one of the wealthiest religious institutions globally. The temple receives thousands of daily devotees and manages significant charitable and religious programme expenditure. SPST is progressively enhancing its governance, visitor management, and digital accessibility systems to serve the growing number of pilgrims from across India and the global Hindu diaspora.
Other key players in the market are Shree Siddhivinayak Ganapati Temple Trust, Akal Takht, T-Series Pvt. Ltd., Vedic Broadcasting Limited, Sanskar Info TV Pvt. Ltd., Yatra Online Limited, Tour My India Pvt Ltd, Travel Planner, Spiritual India Tours, Moksh Agarbatti, ITC Limited, NR Group, One Point Six Technologies Pvt Ltd (Leadstart), Rgyan, Kalpnik Technologies Pvt Ltd, Templefolks, and Others.
*Please note that this is only a partial list; the complete list of key players is available in the full report. Additionally, the list of key players can be customized to better suit your needs.*
Key Findings from the Indian Religious and Spiritual Market Report
- Comprehensive quantitative and qualitative analysis with historical and forecast data from 2019 to 2035
- Detailed segmentation by religion, income source, distribution channel, and regional market across North, East and Central, West, and South India
- Analysis of the competitive landscape profiling major temple trust bodies, religious media companies, travel operators, merchandise companies, and online service providers
- Assessment of government pilgrimage infrastructure investment, PRASAD scheme impacts, and digital service adoption trends reshaping shrine management and devotee engagement
- Insights on Mahakumbh and major pilgrimage event economic impacts, temple trust financial performance, and digital platform growth in religious tourism and merchandise
- Strategic recommendations for participants across religious tourism, devotional media, merchandise, and online services based on market growth trends and consumer behaviour shifts
Why Choose Expert Market Research?
- Trusted by religious institutions, hospitality groups, media companies, and investors for accurate, data-driven Indian religious market intelligence
- Industry-validated research with verified pilgrimage footfall data, trust revenue analysis, and primary source verification across all religious market segments
- Actionable insights for religious tourism operators, devotional merchandise companies, media content platforms, and infrastructure investors
- Customisable research solutions tailored to specific religions, income sources, distribution channels, or regional market focus areas
Call to Action
Unlock the significant growth opportunities in India's expanding religious and spiritual economy with our comprehensive market report for 2026. Whether you are a pilgrimage travel operator developing product strategy, a religious media company assessing content investment, a devotional merchandise manufacturer planning market expansion, an online platform provider evaluating the spiritual services opportunity, or an investor tracking India's unique cultural economy, our research delivers the data-driven insights you need. Access detailed forecasts by religion, income source, and region, alongside competitive profiles of leading market participants. Download your free sample today and gain a strategic advantage in the Indian religious and spiritual market.
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*While we strive to always give you current and accurate information, the numbers depicted on the website are indicative and may differ from the actual numbers in the main report. At Expert Market Research, we aim to bring you the latest insights and trends in the market. Using our analyses and forecasts, stakeholders can understand the market dynamics, navigate challenges, and capitalize on opportunities to make data-driven strategic decisions.*
Key Questions Answered in the Report
The Indian religious and spiritual market reached a value of USD 64.42 Billion in 2025.
The market is expected to grow at a CAGR of 10.00% between 2026 and 2035.
The major drivers of the market include rising disposable incomes, increasing population, expanding online distribution channels, and the rising pilgrimage tourism in India.
Key trends aiding market expansion include the government initiatives to promote religious tourism, introduction of digital platforms, and development of Indian railway to support the seamless travel of devotees.
Regions considered in the market are North India, East and Central India, West India, and South India.
The major religions considered in the market include Hinduism, Islam, Sikhism, Buddhism, and Christianity, among other religions.
The leading income sources in the market can be divided into religious tourism, donations, media and music, religious items and merchandise, construction and infrastructure, among others.
The major distribution channels in the market include direct from religious place, retail, and online.
The leading trust or managing bodies are Sree Padmanabhaswamy Temple Trust (SPST), Shri Saibaba Sansthan Trust, Tirumala Tirupati Devasthanams (TTD), Shri Mata Vaishno Devi Shrine Board, Shree Siddhivinayak Ganapati Temple Trust, and Akal Takht, among others. The media companies are T-Series Pvt. Ltd., Sanskar Info TV Pvt. Ltd., and Vedic Broadcasting Limited, among others. The religious travel companies are Yatra Online Limited, Tour My India Pvt Ltd, Travel Planner, and Spiritual India Tours, among others whereas the merchandise companies include Moksh Agarbatti, ITC Limited, NR Group, and One Point Six Technologies Pvt Ltd (Leadstart), among others. The online service providers include Rgyan, Kalpnik Technologies, and Templefolks, among others.
The market is estimated to witness a healthy growth in the forecast period of 2026-2035 to reach a value of USD 167.09 Billion by 2035.
Report Summary
Explore our key highlights of the report and gain a concise overview of key findings, trends, and actionable insights that will empower your strategic decisions.
| REPORT FEATURES | DETAILS |
| Base Year | 2025 |
| Historical Period | 2019-2025 |
| Forecast Period | 2026-2035 |
| Scope of the Report |
Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment:
|
| Breakup by Religion |
|
| Breakup by Income Source |
|
| Breakup by Distribution Channels |
|
| Breakup by Region |
|
| Market Dynamics |
|
| Competitive Landscape |
|
| Companies Covered |
|
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