Devanjana Mukherjee, Khabri Media
As the calendar turns, it heralds not just the change of seasons but also the onset of one of India’s most celebrated and auspicious periods – the wedding season.
Pic: Social Media
Steeped in tradition, marked by joyous celebrations, and characterized by the union of families, the wedding season in India is more than just a cultural affair; it’s a robust economic driver. According to the Confederation of All India Traders (CAIT), the upcoming wedding season is anticipated to generate a staggering business turnover of Rs 4.7 lakh crore. To subscribe please click tau.id/2iy6f and access our live channel.
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Traders’ body CAIT on Tuesday said it is expecting an expenditure of Rs 4.74 lakh crore in the upcoming wedding season from November 23 to December 15, which is likely to see almost 38 lakh marriages. The expenditures related to wedding purchases and procurement of various services by consumers this season are almost Rs 1 lakh crore more than the year-ago period.
The estimates are based on inputs from trade bodies in 30 cities in different states and stakeholders in goods and services. The wedding dates during the season are November 23, 24, 27, 28, 29, and December 3, 4, 7, 8, 9 and 15, CAIT said. Beyond the economic implications, the wedding season also has a positive impact on communities.
Pic: Social Media
Weddings in India are not mere ceremonies; they are grand spectacles that involve meticulous planning, elaborate rituals, and a multitude of events. From the engagement to the sangeet, the mehndi ceremony to the wedding itself, each occasion demands its own set of preparations.
This multifaceted celebration serves as the catalyst for an economic boom, as families invest significantly in clothing, jewelry, catering, venue decorations, and a plethora of other services. From online invitations to virtual wedding consultations, technology has streamlined the wedding planning process as well.
While the wedding season presents lucrative opportunities for various sectors, it also poses challenges. The ongoing global scenario, including supply chain disruptions and economic uncertainties, can impact the smooth flow of business.
Khandelwal said in Delhi alone over 4 lakh weddings are expected this season, which could generate a business of about Rs 1.25 lakh crore. The projections by the Confederation of All India Traders (CAIT) underscore the significance of this period in driving business across various sectors.
