The Wedding Season in India is Expected to Exceed Rs 4.74 Lakh Crore in Expenditure
According to the Confederation of All India Traders (CAIT), the upcoming wedding season from November 23 to December 15 is estimated to see an expenditure of Rs 4.74 lakh crore, with almost 38 lakh marriages taking place.
Compared to the previous year, the expenditures related to wedding purchases and procurement of various services consumers are almost Rs 1 lakh crore more. This marks a significant increase, indicating a positive outlook for the Indian economy and retail trade.
Based on input from trade bodies in 30 cities and various stakeholders in goods and services, CAIT Secretary General Praveen Khandelwal stated that around 38 lakh weddings are expected to take place during this period, with a total expenditure of approximately Rs 4.7 lakh crore.
Khandelwal highlighted that there will be an increase in expenditure of almost Rs 1 lakh crore from the previous year, which is a promising development for the Indian economy and retail trade. The specific wedding dates during the season, according to CAIT, are November 23, 24, 27, 28, 29, and December 3, 4, 7, 8, 9, and 15.
In Delhi alone, over 4 lakh weddings are expected this season, potentially generating a business of about Rs 1.25 lakh crore. With such significant numbers, the wedding season is anticipated to make a significant contribution to the economy and retail trade in India.