The ongoing wedding season in the country, which would likely last till mid-July with approximately 42 lakh weddings, is expected to see business worth Rs 5.5 lakh crore through wedding-related purchases and services, said a survey on Monday by traders’ body CAIT’s research arm CAIT Research & Trade Development Society.
CAIT National President B C Bhartia and Secretary General Praveen Khandelwal said that more than 4 lakh weddings are expected to take place in Delhi itself, generating around Rs 1.5 lakh crore in business revenue. Last year, around 35 lakh weddings took place during the wedding season ending on December 14, with expenses estimated at Rs 4.25 lakh crore.
According to the traders’ body, each wedding during the season will have an expenditure of Rs 3 lakh while approximately 10 lakh weddings will cost around Rs 6 lakh each. Furthermore, 10 lakh weddings are projected to incur expenses of Rs 10 lakhs per wedding, followed by 10 lakh weddings with expenditures of Rs 15 lakhs per wedding.
Additionally, 6 lakh weddings are expected to have an expenditure of Rs 25 lakhs each, 60,000 weddings with Rs 50 lakhs expenditure per wedding, and 40,000 weddings with expenses exceeding Rs 1 crore.
“Approximately 20 per cent of the expenditure for each marriage is allocated to both the groom’s and bride’s side, while 80 per cent goes to third-party agencies involved in wedding arrangements,” said Bhartia and Khandelwal.
Home repairs and painting, jewellery, sarees, furniture, readymade garments, clothing, footwear, wedding and greeting cards, dry fruits, sweets, fruits, worship items, groceries, food grains, decoration items, home decor, electrical utilities, electronics, etc are typically in high demand and expected to generate significant business this year, said CAIT.
Further, banquet halls, hotels, open lawns, community centers, public parks, farmhouses, and various other wedding venues are fully booked across the country including Delhi, said Bhartia and Khandelwal.
