48 Lakh Weddings Will Generate Rs 6 Lakh Crore Business In 60 Days


Mohul Ghosh

Mohul Ghosh

Nov 12, 2024


According to the Confederation of All India Traders (CAIT), India’s wedding season is expected to generate an estimated ₹6 lakh crore in economic activity across goods and services. This surge is primarily fueled by wedding-related spending on jewelry, clothing, catering, venues, and various services. In Delhi alone, around 4.5 lakh weddings are anticipated, contributing ₹1.5 lakh crore to the local economy.

48 Lakh Weddings Will Generate Rs 6 Lakh Crore Business In 60 Days

Retailers Prepare for a Festive Economic Uplift

With the season kicking off on November 12, 2024, retailers across India are readying themselves for a high-demand period. CAIT’s recent study suggests that the retail sector is on track to achieve a total turnover of ₹5.9 lakh crore during this festive time. Major retail sectors, including fashion, electronics, and home decor, expect strong sales as consumers invest in wedding essentials.

Gold Demand Increases Amid Wedding Season

Jewelry stores are also witnessing heightened activity. Suvankar Sen, MD & CEO of Senco Gold, observed a rise in wedding-related gold purchases during Dhanteras. He noted that many consumers began shopping early in preparation for the wedding season, which will span from November 2024 through February 2025. A recent duty cut in August spurred early purchases, increasing footfall and demand in stores.

Destination Weddings Gain Popularity

The demand for destination weddings has grown significantly, particularly as travel restrictions have eased. Vaibhav Sadhwani, Co-founder of Behind The Scene Weddings, shared that more couples are choosing scenic locations to celebrate their weddings, turning them into memorable vacation experiences for their guests. Domestic hotspots such as Rajasthan, Goa, and Udaipur remain popular, while international destinations like Thailand, Bali, and Dubai are increasingly favored.

Outlook for the Wedding Season

This year’s wedding season highlights a robust economic boost, with a strong demand for both traditional and destination weddings. As retailers, jewelers, and service providers prepare to meet this surge in consumer demand, India’s wedding season is set to bring a festive economic boom that supports various sectors across the country.

4o


Mohul Ghosh
Mohul Ghosh
  • 1791 Posts

Subscribe Now!

Get latest news and views related to startups, tech and business

You Might Also Like

Business
Dec. 8, 2022

Beat The Burden Of Medical Inflation With A Health Insurance

As disease rates rise and medical technology develops, treatment costs climb. It’s essential to understand that medical costs are not exclusively associated with hospitals. The cost of prescription drugs, diagnostic procedures, ambulance and operating room fees, consultations with doctors, and other costs are also constantly increasing. All of them could put a big strain on […]

Business
Dec. 8, 2022

3 Biggest Changes Of iOS 16.2 Update That Every iPhone User Should Know!

In its latest update Apple said that it is preparing for the iOS 16.2 update for iPhones across the world. Notably, like the previous release, there are a couple of changes coming for the iPhones.  iOS 16.2 Update Release Date So far, Apple has not announced a release date for iOS 16.2 update. Reportedly, the […]

Business
Dec. 8, 2022

300 Microsoft Employees Create Employee Union, First Time Ever: This Is How Microsoft Reacted

Around 300 workers at Microsoft Corp.’s ZeniMax Studios have commenced the process of forming a union which is said to be the first at the software giant in the US.  Here, Microsoft Corp.’s ZeniMax Studios known for popular video games including Skyrim and Fallout. Forming Union In Microsoft Corp Moreover, the quality assurance employees at […]

Business
Dec. 7, 2022

India Beats China In Air Travel Safety: Ranking Jumps From 102 To 48 In Global Aviation Safety

India’s air safety protocols and executions have improved drastically over the years, as validated by the findings of a specialized agency of the United Nations, the International Civil Aviation Organization or ICAO. The UN watchdog has upgraded India’s ranking in terms of aviation safety to the 48th position, jumping past the rankings of countries like […]

Recent Posts

Related Videos

   

Subscribe Now!

Get latest news and views related to startups, tech and business

who's online