India To Witness Wedding Business Worth Rs 4.25 Lakh Crore In 23 Days (Image: Pixabay)
The Confederation of All India Traders (CAIT) is predicting that the wedding business in India this year may mark a record with around 35 lakh weddings and a business of around Rs 4.25 lakh crore. As per a survey conducted by the Indian Traders” body, India is preparing to witness its largest wedding season yet, between November 23 and December 15, 2023.
“Wedding season first spell from 23 November to 15 December is all set to bring cheers to trading community.@CAITIndia expects a biz of about Rs 4.25 lakh crore wedding trade this year,” CAIT Secretary General Praveen Khandelwal wrote on X. Praveen Khandelwal also added that approximately 35 lakh weddings are expected to take place within this time frame. This is expected to create an incredible economic surge in the wedding industry.
Wedding season first spell from 23 November to 15 December is all set to bring cheers to trading community.@CAITIndia expects a biz of about Rs 4.25 lakh crore wedding trade this year.
About 35 lakh weddings are estimated to be solemnised during this period in #Bharat @PMOIndia… pic.twitter.com/zCrg9QW5PQ
— Praveen Khandelwal (@praveendel) October 17, 2023
As per the CAIT Research & Trade Development Society survey, Delhi alone is set to host over 3.5 lakh weddings during this wedding season. This means around 10 percent of the total number of weddings between November 23 and December 15 in India will take place in the national capital itself, and it will also generate Rs 1 trillion. According to BC Bhartia, National President of CAIT, approximately 35 lakh weddings occurred during the same period last year, with expenses estimated at up to ₹3.75 lakh crore.
CAIT officials also say that about 600,000 weddings will have an estimated budget of Rs 3 lakh per wedding, and around 10 lakh weddings will cost around Rs 6 lakh per wedding. Also, 12 lakh weddings may have expenses of about Rs 10 lakh per wedding, and 6 lakh weddings are expected to cost Rs 25 lakh per event. The survey also says that 50,000 weddings may incur expenses of about ₹50 lakh, and another 50,000 weddings will have a budget of Rs 1 crore or more per event. Goa, Jaipur, Kerala, and Shimla are the popular wedding destinations, as per the survey. Businesses to jewellery, sarees, furniture, ready-made garments, footwear, decoration items, and many more are also anticipated to benefit from this wedding season.
