India’s wedding season is back and how! The Confederation of All India Traders (CAIT) is expecting businesses to earn ₹4.25 lakh crore this wedding season, which is the highest ever.
This estimate comes after CAIT expects a whopping 35 lakh weddings to be solemnised in a span of just 23 days between November 23 to December 15, 2023.
During the same period last year, around 32 lakh weddings took place with total expenses coming up to ₹3.75 lakh crore. Around 3.5 lakh weddings in these 23 days are set to take place in Delhi itself, which is likely to generate business worth nearly ₹1 lakh crore.
CAIT believes that around six lakh weddings are supposed to take place with an estimated expense of ₹3 lakh per wedding. Other budgets range from ₹6 lakh per wedding to as high as ₹1 crore per wedding.
According to Acharya Durgesh Tare, who is the Chairman of CAIT’s Spiritual and Vedic Knowledge Committee, November 23, 24, 27, 28, and 29 are auspicious dates for solemnising marriages, followed by December 3, 4, 7, 8, 9 and 15. The next phase of the wedding season will begin mid-January of 2024 and go on till July of that year.
The upcoming festive and wedding season will lead to an increase in demand for jewellery, sarees, furniture, readymade garments, footwear, and other accessories, according to CAIT.
(Edited by : Priyanka Deshpande)
First Published: Oct 17, 2023 11:45 AM IST
