New Delhi

The Confederation of All India Traders (CAIT) has released estimates for this year's Indian wedding season, forecasting a business worth 4.25 trillion rupees ($51 billion) during a 23-day period from November 23 to December 15, according to a survey conducted by CAIT Research & Trade Development Society.  

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This figure marks an increase from the previous year's 3.75 trillion rupees ($45 billion), showcasing the economic impact of these matrimonial celebrations, Mint reported.  

The research arm of CAIT revealed that approximately 3.5 million weddings are anticipated to be held during this period, accounting for the substantial economic influx.  

A Moneycontrol report cited BC Bhartia, the National President of CAIT, who commented on the growth saying, "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 Rs 1 lakh crore ($12 billion) in Delhi itself."  

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As India's wedding season unfolds, an array of wedding budgets will shape the business landscape. Around 50,000 weddings are anticipated to fall within the luxury category, with spending exceeding 1 crore rupees ($120,000) each, while another 50,000 will have budgets of 50 lakh rupees ($60,000) per wedding.

In addition, an estimated six lakh weddings are expected to incur expenses around 25 lakh rupees ($30,000). The majority of the celebrations, approximately 1.2 million weddings, will adhere to a budget of around 10 lakh rupees ($12,000), while an additional one million weddings are likely to have expenses of about ₹6 lakh ($7,200) each.  

The wedding season, which will kick off from November 23, 2023, and continue into December, is also expected to bring a surge in demand for banquet halls, hotels, open lawns, community centres, public parks, farmhouses, and other venues across the country.

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Furthermore, a wide range of services, including tent decorators, flower arrangements, crockery, catering, travel services, cab services, photography, videography, music, and event management, are anticipated to contribute to this multi-trillion-rupee industry, Moneycontrol reported.

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