New Delhi:

The upcoming wedding season in India which will extend from November 12 till December 16 is likely to generate business worth nearly Rs 6 lakh crore from 48 lakh weddings which constitutes a 41 per cent increase over the corresponding figure of Rs 4.25 lakh crore recorded for 35 lakh weddings last year, according to a study carried out by the Confederation of All India Traders (CAIT).

From 11 auspicious dates the previous year, this year’s season would have 18 dates which is expected to fuel the business growth, with Delhi alone expected to see Rs 1.5 lakh crore business across 4.5 lakh weddings this year, estimates compiled by CAIT show.

CAIT estimates 10 lakh weddings involving spending of Rs 3 lakh per wedding, 10 lakh weddings with Rs 6 lakh per wedding, 10 lakh weddings with Rs 10 lakh per wedding, 10 lakh weddings with Rs 15 lakh per wedding, 7 lakh weddings with Rs 25 lakh per wedding, 50,000 weddings with Rs 50 lakh per wedding, and 50,000 weddings with Rs 1 crore or more per wedding.

CAIT’s Veda and Spiritual Committee convenor Acharya Durgesh Tare said the auspicious wedding dates for this season are November 12, 13, 17, 18, 22, 23, 25, 26, 28, and 29 and December 4, 5, 9, 10, 11, 14, 15, and 16. Following this period, there will be a pause of about a month before the season resumes from mid-January to March 2025.

“The study has also highlighted a shift in consumer purchasing behaviour, with people increasingly opting for Indian products over foreign goods, reflecting the success of Prime Minister Narendra Modi’s ‘Vocal for Local’ and ‘Atmanirbhar Bharat’ (Self-Reliant India) vision,” said CAIT’s Secretary General Praveen Khandelwal.

Mr Khandelwal said wedding expenses are divided between goods and services, with main expenditure areas in goods including jewellery (15 per cent), clothing (10 per cent), electronics and appliances (5 per cent), dry fruits, sweets, and snacks (5 per cent), groceries and vegetables (5 per cent), gift items (4 per cent), and other goods (6 per cent).

In the services sector, expenditures will likely go toward banquet halls, hotels, and venues (5 per cent), catering services (10 per cent), event management, tent decoration floral decorations, transportation and cab services (3 per cent), photography and videography (2 per cent), other services such as music and lighting.

(Except for the headline, this story has not been edited by NDTV staff and is published from a syndicated feed.)

New Delhi:

India is gearing up for a massive economic boost as the upcoming wedding season is projected to generate Rs 5.9 lakh crore in business, according to a recent study by the Confederation of All India Traders (CAIT).

With an estimated 48 lakh weddings taking place nationwide in November and December 2024, merchants and retailers across the country are preparing for an unprecedented surge in demand for wedding-related goods and services.

This year’s wedding season is set to outpace last year’s figures, which saw 35 lakh weddings and generated Rs 4.25 lakh crore. The increase is attributed to a rise in the number of auspicious wedding dates, from 11 in 2023 to 18 this year.

Delhi alone is expected to host 4.5 lakh weddings, contributing Rs 1.5 lakh crore to the total business, underscoring the capital’s significant role in the overall economic boom.

The wedding season, which begins on November 12 and runs until December 16, will feature a series of auspicious dates that are expected to drive up wedding-related spending.

Acharya Durgesh Tare, Convenor of CAIT’s Veda and Spiritual Committee, noted that the season kicks off on Dev Uthani Ekadashi and will include auspicious dates spread across both November and December. This extended window is likely to result in increased business activity compared to previous years.

CAIT’s National Secretary General, Praveen Khandelwal, said, “Consumers are increasingly prioritising Indian products, reinforcing Prime Minister Narendra Modi’s call for ‘Vocal for Local’ and ‘Atmanirbhar Bharat’ (Self-reliant India).

He added, “Indian products have made significant inroads in the market, and their demand has increased dramatically, overshadowing foreign goods. This indicates a bright future for Indian products in the country.”

CAIT National President, BC Bhartia, offered a detailed breakdown of the anticipated wedding expenses across different budget ranges. These expenses range from Rs 3 lakh per wedding for 10 lakh ceremonies, to over Rs 1 crore for high-end weddings. This diverse spending spectrum is expected to fuel growth across various sectors, with significant demand for goods such as clothing, jewellery, electronics, and food items.

Additionally, services like banquet halls, event management, catering, transportation, and photography will also see a sharp rise in business.

Another emerging trend this year is the increased expenditure on social media services for wedding coverage, as more couples look to enhance their digital presence during the festivities.

Following the wedding season, festive celebrations such as Christmas and New Year are expected to sustain the economic momentum.

The second phase of the wedding season is set to resume from mid-January 2025, adding another wave of business opportunities for traders and service providers.

(Except for the headline, this story has not been edited by NDTV staff and is published from a syndicated feed.)