Following a record-breaking Diwali, India’s business community gears up for the upcoming wedding season starting November 23. The Confederation of All India Traders (CAIT) projects a potential business worth Rs 4.74 lakh crore in mainline retail, including goods and services, with an estimated 38 lakh weddings across the country. Last year, during the same period, around 32 lakh weddings contributed to an estimated Rs 3.75 lakh crore in trade.
The wedding season kicks off on Dev Uthan Ekadashi and extends until December 15, featuring auspicious dates in November and December. After this period, weddings are scheduled to resume from mid-January through July 2024.
CAIT, consulting various trade bodies and stakeholders, predicts that the 38 lakh weddings will inject significant economic activity, covering both wedding-related purchases and various services. In Delhi alone, over 4 lakh weddings are expected, generating approximately Rs 1.25 lakh crore in business.
Breaking down expenditure patterns, CAIT anticipates a diverse range of wedding budgets, with expenses of Rs 3 lakh for 7 lakh weddings, Rs 6 lakh for 8 lakh weddings, Rs 10 lakh for 10 lakh weddings, Rs 15 lakh for 7 lakh weddings, Rs 25 lakh for 5 lakh weddings, Rs 50 lakh for 50 thousand weddings, and expenses exceeding Rs 1 crore for another 50,000 weddings.
CAIT members reveal that 50 percent of the expenditure is attributed to goods, encompassing textiles, jewellery, electronics, consumer durables, dry fruits, sweets, savouries, groceries, vegetables, gift items, and miscellaneous items. In the services sector, the remaining 50 percent is allocated, indicating a substantial economic boost for various industries during the wedding season.
As India anticipates this surge in economic activity, the wedding season becomes a pivotal period for businesses across the country, reflecting the vibrant and diverse landscape of cultural celebrations.
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