Traders expect Rs 13 lakh crore business this wedding season: CAIT | The Financial Express

Traders expect Rs 13 lakh crore business this wedding season: CAIT

Ease of doing business for MSMEs: According to CAIT, 32 lakh marriages were solemnised with Rs 3.75 lakh crore expenditure during the November-December 2022 period.

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More than 7 lakh weddings are expected during January-June period this year in Delhi, according to CAIT.

Ease of doing business for MSMEs: Traders’ body Confederation of All India Traders (CAIT) on Thursday said the upcoming wedding season (January 15 – June 27) will see around 70 lakh weddings, generating approximately Rs 13 lakh crore of business for traders “by way of wedding purchases and utilization of various wedding-related services by people.” According to CAIT’s estimates, over 7 lakh weddings are expected during the period in Delhi alone with a likely expenditure of about Rs 1.25 lakh crore of rupees. During the November-December 2022 period, CAIT said 32 lakh marriages were solemnised all over the country with an expenditure of Rs 3.75 lakh crore.

Expenditure-wise, about 10 lakh weddings will have an estimated cost of Rs 3 lakh per wedding, about 10 lakh weddings the cost per wedding will be around Rs 5 lakh, 15 lakh weddings will cost Rs 10 lakh per marriage, and 10 lakh weddings will incur expenditure of Rs 15 lakh per wedding during the six-month period this year, said CAIT’s National President BC Bhartia and Secretary General Praveen Khandelwal.

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Moreover, another 10 lakh marriages will cost Rs 25 lakh per marriage, 10 lakh weddings will incur Rs 35 lakh per wedding, 3 lakh marriages will have Rs 50 lakhs expenditure per wedding and 2 lakh marriages with see an expense of Rs 1 crore or more.

“In view of the good business prospects of the wedding season, traders across the country have made elaborate preparations, as they want to continue the sentiments emanated from just concluded record business figures of wedding season of last year,” said Bhartia and Khandelwal. 

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Moreover, a large quantum of business generates in the form of house repair, paint, apart from jewellery, sarees, furniture, readymade garments, footwear, wedding cards, dry fruits, sweets, fruits, decoration items, home decoration items, electrical utility, electronics and many gift items etc., said CAIT. “Also, banquet halls, hotels, open lawns, community centres, public parks, farmhouses and many other types of venues are prepared across the country to host marriages.”

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First published on: 12-01-2023 at 20:35 IST