Wedding Rush: Rs 6 lakh crore bonanza begins today!

By The Capital

On 12 Nov 2024 16:16:28

Wedding Rush: Rs 6 lakh crore bonanza begins today!

The wedding season in India is officially set to begin today, ushering in a period of vibrant celebrations and enormous economic activity.

The wedding season in India is officially set to begin today, ushering in a period of vibrant celebrations and enormous economic activity. Over the next 35 days, a staggering 48 lakh weddings are expected to take place across the country, generating a massive Rs 6 lakh crore in business.

The wedding rush will peak during this time, with markets bustling and businesses thriving as families celebrate one of the most important milestones in their lives. This year’s wedding season is projected to surpass the previous one, both in terms of the number of weddings and the economic impact. In 2023, 35 lakh weddings took place, contributing an estimated Rs 4.25 lakh crore to the economy.

This year, experts are predicting a substantial increase, with around 48 lakh weddings expected to occur, driving a significant surge in demand for wedding-related services and goods. According to a study by the Confederation of All India Traders (CAIT), Delhi alone will account for more than 4.5 lakh weddings, contributing an estimated Rs 1.5 lakh crore to the overall business. From November 12 to December 16, couples across India will exchange vows, and these weddings will result in substantial economic activity across various sectors.

The wedding season is a well-defined period, running from November 12 to December 16, with 18 auspicious wedding days scattered throughout this period. The key wedding dates include November 12, 13, 17, 18, 22, 23, 25, 26, 28, 29, as well as December 4, 5, 9, 10, 11, 14, 15, and 16. During this time, millions of families will be busy making arrangements, spending on everything from wedding attire to venue bookings, catering services, and more. The cost of weddings in India is incredibly high, with spending spread across multiple sectors. A significant portion of the wedding budget is spent on clothes, with around 10per cent of total expenses going toward attire for the bride, groom, and their families. Jewellery comes next, taking up approximately 15per cent of the wedding expenses, as families opt for gold and other precious items to mark the occasion.

Electronics and groceries also account for a portion of the budget, with 5per cent allocated to each of these categories. Fresh vegetables, essential for the wedding feasts, account for around 4 per cent of the spending, while other miscellaneous items, such as flowers and decorations, make up an additional 6 per cent. Wedding venues, function halls, and hotels are another major expenditure, contributing 5 per cent of the overall budget. Event management services, including organizing the entire ceremony, add 3 per cent, while 10 per cent of the budget is set aside for elaborate tent decorations that make wedding venues look magical. Catering services, which are crucial for the grand feasts, account for another 10 per cent.

Additionally, transport services for guests and family members, including taxis and buses, add 3 per cent to the wedding costs, and photography and videography services, essential for capturing the memories, are typically allocated 2 per cent of the total wedding expenditure. In total, this year’s wedding season will bring in an astonishing Rs 6 lakh crore, benefiting a wide array of businesses and services.

From local markets and large retailers to event planners, caterers, and photographers, the wedding rush will keep India’s economy bustling, as millions of people come together to celebrate love, tradition, and new beginnings. The sheer scale of the wedding industry in India highlights its importance as one of the country’s most lucrative and influential sectors.