Wedding sector set to earn ₹3.75 lakh cr between 4 Nov-14 Dec this year: CAIT

The upcoming wedding season in India will be a joyous occasion not only for the bride, groom their families but also fort he wedding industry, as according to Confederation of All India Traders (CAIT), 32 lakh weddings scheduled to take place between 4 November to 14 December will generate business of at least ₹3.75 lakh crore.

The wedding industry had been slated to grow by at least 200% in 2022 according to industry experts. This comes as people rush to conduct and complete marriage ceremonies after facing Covid pandemic induced lockdown for over two years.

“Popular venues are already chock-a-block for the upcoming season and the upper middle class is still choosing offbeat venues. While destination weddings still remain the preferred pick for HNIs, our venues and weddings business will see more than a 100% growth this year," Vikaas Gutgutia, founder and managing director of Ferns N Petals Pvt. Ltd that owns and operates Fnp Weddings & Events India as well as 11 large wedding venues in and around Delhi NCR had told Livemint in September this year.

According to official records, the highly unorganised wedding sector was estimated to be valued at was estimated at ₹3.68 trillion, according to a KPMG report titled Market Study of Online Matrimony and Marriage Services in India.

The Confederation of All India Traders (CAIT) based its assessment on a survey conducted by its research arm. The survey was carried out in 35 cities with 4,302 traders and service providers.

CAIT Secretary General Praveen Khandelwal said that in Delhi alone, more than 3.5 lakh weddings are expected to take place in this season, which is likely to generate a business of about ₹75,000 crore in Delhi itself. Last year around 25 lakh weddings took place in the same period and expenses were estimated at ₹3 lakh crore.

Overall in this wedding season, around ₹3.75 lakh crore will flow through the wedding purchases in the markets. The next phase of the wedding season will start from January 14 and continue till July, he added.