The wedding season in the country is all set to start soon. According to a report, around 48 lakh weddings are expected to take place across India during the upcoming season. This will significantly increase business which can provide a major boost to the country’s economy. The season this year starts on November 12 and continues till December 16. Major businesses have already started to make preparations to meet the demands.
According to a recent study by the Confederation of All India Traders, around 48 lakh weddings are expected to take place in November and December. It has been estimated that a business of around Rs 5.9 lakh crore will be generated during the wedding season. In Delhi alone, around 4.5 lakh weddings are expected to take place which are likely to generate a business worth Rs 1.5 lakh crore.
In 2023, around 35 lakh weddings took place which generated a business worth Rs 4.25 lakh crore. This year the numbers are expected to increase significantly. There are around 15 auspicious dates for marriages in November and December. Acharya Durgesh Tare, Convenor of CAIT’s Veda and Spiritual Committee mentioned that the auspicious dates in the month of Novermber are 12, 13, 16, 17, 18, 22, 23, 25, 26, 28, and 29. The auspicious dates in December are 4, 5, 9, 10, 14.
The Confederation of All India Traders collected data from 75 major cities of the country to estimate the number of weddings according to the budget.
Around 10 lakh weddings will take place with an average spending of Rs 3 lakh per wedding.
It is estimated that around 10 lakh weddings will be held with an average spending of Rs 6 lakh per wedding.
Around 10 lakh weddings are expected to be held with an average spending of Rs 10 lakh per wedding.
Around 7 lakh weddings with an average spending of Rs 25 per wedding is expected to take place.
The study also revealed that around 50,000 weddings, with an average spending of Rs 50 lakh per wedding will take place across the country.
Major expenses (in percentage):
Clothing, sarees, lehengas, and apparel- 10 per cent
Jewellery- 15 per cent
Electronics, electric devices, and consumer durables- 5 per cent
Dry fruits, sweets, and snacks- 5 per cent
Groceries and vegetables- 5 per cent
Gifts- 4 per cent
Other items- 6 per cent
Estimated Expenditure on Services (in percentage):
Banquet halls, hotels, and wedding venues- 5 per cent
Event management- 5 per cent
Tent decoration- 12 per cent
Catering services- 10 per cent
Floral decoration- 4 per cent
Transportation and cab services- 3 per cent
Photography and videography- 2 per cent
Orchestra and bands- 3 per cent
Lighting and sound- 3 per cent
Other services- 3 per cent
Comments
0 comment