 "4.8 million weddings this year to generate over Rs 6 trillion: Cait")
India’s wedding season expects to see 4.8 million marriage ceremonies nationwide between November 12 and December 16, generating a whopping Rs 6 trillion in business, according to a media report quoting the Confederation of All India Traders (Cait).
The number of weddings this year will see a significant rise from 3.8 million ceremonies last year, which generated Rs 4.74 trillion, a report by The Financial Express stated.
Delhi alone anticipates 450,000 weddings, expected to contribute Rs 1.5 trillion to the local economy. Cait’s study reveals that an increase from 11 auspicious dates last year to 18 this year will fuel business growth as families across income levels prepare for celebrations.
Cait estimates the total spending on weddings based on different budget categories:
- One million weddings spending approximately Rs 3 lakh each
- One million weddings spending Rs 6 lakh each
- One million weddings spending Rs 10 lakh each
- One million weddings spending Rs 15 lakh each
- Seven million weddings spending Rs 25 lakh each
- 50,000 weddings spending Rs 50 lakh each
- 50,000 weddings spending Rs 1 crore or more each
The retail sector is gearing up for high demand, especially for clothing, jewellery, household items, and electronics. The services sector, too, will see increased activity in banquet halls, event management, catering, and photography. Cait estimates specific spending in services, including:
- Banquet halls and venues - 5 per cent
- Event management - 3 per cent
- Tent and decoration services - 10 per cent
- Catering - 10 per cent
- Floral decoration - 4 per cent
- Transportation - 3 per cent
- Photography and videography - 2 per cent
- Music and sound - 6 per cent
With an economic boost anticipated across India, retailers and service providers are ready for the upcoming wedding season.