The Confederation of All India Traders (CAIT) is expecting businesses to earn Rs 4.25 lakh crore in just 23 days of this year’s Indian wedding season. Taking to X (formerly Twitter), CAIT Secretary General Praveen Khandelwal said that between November 23 and December 15, nearly 3.5 million weddings are slated to take place and are expected to generate an impressive Rs 4.25 trillion in purchases and services.
“Wedding season first spell from 23 November to 15 December is all set to bring cheers to trading community. @CAITIndia expects a biz of about Rs 4.25 lakh crore wedding trade this year,” Mr Khandelwal tweeted.
“About 35 lakh weddings are estimated to be solemnised during this period in #Bharat,” he added.
Wedding season first spell from 23 November to 15 December is all set to bring cheers to trading community.@CAITIndia expects a biz of about Rs 4.25 lakh crore wedding trade this year.
— Praveen Khandelwal (@praveendel) October 17, 2023
Separately, according to IPO India, this year, the average wedding expense in India is estimated to be around Rs 5 lakh. The most popular wedding destinations in the country include Goa, Jaipur, Kerala and Shimla. “The most popular wedding trends in India include destination weddings, themed weddings, and eco-friendly weddings,” IPO India added.
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The upcoming festive and wedding season will lead to an increase in demand for jewellery, sarees, furniture, readymade garments, footwear, and other accessories, according to CAIT. The next phase of the wedding season will start from mid-January and will be continued till July, it said.
Meanwhile, during the same period last year, around 32 lakh weddings took place with total expenses coming up to Rs 3.75 lakh crore. This assessment was based on a survey conducted by CAIT’s research team, PTI reported. The survey was carried out in 35 cities with 4,302 traders and service providers.