Nearly 40 lakh weddings to be held till July, traders expect ₹5 lakh crore biz
1 min read . Updated: 30 Mar 2022, 01:24 PM IST
Premium- Removal of covid restriction has helped and will motivate the business community to make elaborate arrangements for wedding goods to meet the demand.
NEW DELHI: After a robust business during Holi this year, traders across the country are now preparing for the wedding season. About 40 lakh weddings will be solemnised across the country between mid-April and early July, with traders expecting a massive business of about ₹5 lakh crore.
A majority of the money will be spent on wedding goods purchases and supply of various services by different sectors of the trade.
Praveen Khandelwal, secretary general of the Confederation of All India Traders (CAIT) said that in Delhi alone, more than three lakh weddings are expected to be solemnised in this season, which is likely to generate a business of about ₹1 lakh crore in the capital.
Khandelwal added that the removal of covid restriction has helped and will motivate the business community to make elaborate arrangements for wedding goods to meet the demand.
In the last two years, because of covid related curbs there were very few auspicious days available for marriages, and overall weddings had been scaled down substantially. This upcoming wedding period is expected to last 43 days.
CAIT's national president B.C. Bhartia estimates that about five lakh weddings will be held at an average estimated expenditure of ₹2 lakh per wedding.
About 10 lakh weddings will spend about ₹5 lakh per wedding and a similar number are likely to spend ₹10 lakh on weddings.
He added that 50,000 weddings will spend ₹50 lakh each and an equal number will spend ₹1 crore per wedding.
They said that about 20% of the expenditure in Indian marriages is spent on the groom and bride side while 80% of the expenditure is spent on third agencies.
Outside of the typical wedding expenses on venues and wedding-related services, a large amount of expenses also happens in home repairs and paint jobs. Besides, there is expenditure on jewellery, apparel, footwear, greeting cards, dry fruits, sweets, fruits, electronics, motor vehicles and other various gift items.
