The November-December wedding season will generate business worth Rs 5.9 lakh crore: a body of traders

New Delhi:

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

With an estimated 48 lakh weddings expected to take place across the country in November and December 2024, vendors and retailers across the country are bracing for an unprecedented surge in demand for wedding-related goods and services.

This year’s wedding season will surpass last year’s figures, which witnessed 35 lakh weddings and generated Rs 4.25 lakh crore. This increase is due to an increase in the number of successful 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, highlighting the capital’s significant role in the overall economic recovery.

The wedding season, which begins on November 12 and lasts until December 16, will see a number of auspicious dates that are expected to boost wedding expenses.

Acharya Durgesh Tare, chairman, CAIT Vedic and Spirituality Committee, noted that the season begins on Dev Uthani Ekadashi and will include auspicious dates spread over November and December. This extended window is likely to result in increased business activity compared to previous years.

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

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

CAIT National President BC Bhartia provided a detailed breakdown of expected wedding expenses across budget bands. These expenses range from Rs 3 lakh per wedding for 10 lakh ceremonies to over Rs 1 crore for exclusive weddings. This diverse spectrum of spending is expected to drive growth across sectors, with strong demand for goods such as clothing, jewelry, electronics and groceries.

Additionally, services such as banquet halls, event management, catering, transportation and photography will also see a surge in business.

Another emerging trend this year is increased social media spending around wedding coverage as more couples look to increase their digital presence during their ceremonies.

After the wedding season, the economic momentum is expected to be maintained by festive celebrations such as Christmas and New Year.

The second phase of the wedding season will resume in mid-January 2025, providing 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.)