Wedding Season Kicks Off! India’s Economy To Gain Rs 4.7 Lakh Crores

Indian Wedding

Indian Wedding (Image Source: iStockphoto, TN Digital)

The Indian wedding industry is poised for a significant rebound this year. This sector, which spans across hospitality, jewellery, and retail, is eagerly anticipating a revival in business with the onset of the marriage season, beginning with the auspicious Dev Uthan Ekadashi on Thursday, November 23 and continuing until December 15.

The Confederation of All India Traders estimates that around 38 lakh weddings will take place across India during this period, injecting approximately Rs 4.7 lakh crores into the economy through purchases and services related to weddings, as reported by the Times of India.

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Brijesh Goyal, Chairperson of the Chamber of Trade and Industry (CTI), told TOI that the industry is expecting to surpass Rs 3 lakh crore in turnover this season. Delhi alone is predicted to host over three lakh weddings. This increase is due to families holding postponed weddings due to the pandemic. Goyal added that the numbers are now nearly on par with pre-Covid times, with Delhi’s expected turnover exceeding Rs 1 lakh crore.

Praveen Khandelwal, Secretary General of the Confederation of All India Traders, projects even higher numbers, foreseeing over four lakh weddings generating about Rs 1.2 lakh crore in business. He highlighted the significance of November 23, with an expectation of over 20,000 weddings on this single day.

In Kolkata and its surrounding areas, around 50,000 weddings are anticipated this season, with the local wedding industry expecting a business surge of 35 per cent from last season, potentially reaching Rs 50,000 crore to Rs 60,000 crore.

As per Khandelwal, the wedding industry, a major employer, especially for migrant workers in sectors like hospitality and catering, is prepared to meet the consumer demand following a successful Diwali season.

  

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