4.8 million weddings this year to generate over Rs. 6 trillion (US$ 71.33 billion): Cait

India's wedding season is set to boom, with an estimated 4.8 million ceremonies between November 12 and December 16, projected to generate Rs. 6 trillion (US$ 71.33 billion) in business, as per the Confederation of All India Traders (CAIT). This marks a significant increase from last year's 3.8 million weddings, which brought in Rs. 4.74 trillion (US$ 56.35 billion). Delhi alone anticipates 450,000 weddings, contributing Rs. 1.5 trillion (US$ 17.83 billion) to the city’s economy. CAIT attributes this surge to a rise in auspicious dates for weddings this year, from 11 to 18, encouraging more families to celebrate grandly across all income levels.

With diverse budget categories ranging from Rs. 3 lakh (US$ 3,565.79) to over Rs. 1 crore (US$ 118,877) per wedding, the spending is expected to boost India’s retail and services sectors. High demand is anticipated for clothing, jewellery, electronics, and household items, while the services sector will see increased activity in banquet halls, event management, catering, and photography. CAIT estimates specific wedding expenditure allocations, with major shares going to tent and decoration (10%), catering (10%), music (6%), and banquet halls (5%), contributing to a widespread economic uplift during this peak wedding season.

Disclaimer: This information has been collected through secondary research and IBEF is not responsible for any errors in the same.