India’s forthcoming wedding season, starting November 23, is expected to pump about ₹4.74 lakh crore into the market, as per the Confederation of All India Traders (CAIT).
What Happened: The big fat Indian weddings are set to kick off on Dev Uthan Ekadashi, November 23, and will go on till December 15. In this span, roughly 38 lakh weddings are projected across the nation, a considerable surge from the previous year’s trade of Rs 3.75 lakh crore for nearly 32 lakh weddings.
Following deliberations with trade bodies and stakeholders across 30 cities, CAIT anticipates this rise in wedding festivities will substantially uplift the economy. The retail sector comprising goods and services is eyeing a colossal business volume worth ₹4.74 lakh crore.
CAIT National President B C Bhartia and Secretary General Praveen Khandelwal pointed out that Delhi alone is expected to see over 4 lakh weddings this season, contributing approximately ₹1.25 lakh crore to the business volume. In Kolkata, an estimated 50,000 weddings are expected this season, boosting the state economy by around ₹50,000 crore
The goods and services sectors are projected to thrive, with various subsectors, such as textiles, jewellery, electronics, banquet halls, event management, catering services, and many others expected to witness a significant boost in business.
Anticipating this enormous economic uplift, Bhartia and Khandelwal predict that the momentum from the wedding season will carry through to Christmas and New Year sales, followed by another wave in the wedding season starting January 14, aligning with Sankranti.
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