25 Lakh Indian Weddings In 30 Days Will Generate Rs 3 Lakh Crore Of Business!
The whole world is aware of the ‘The Big Fat Indian Weddings’. It is not just a ceremony of tying knots of two families. It is a mammoth festival in itself. And there is a whole industry that revolves around this. The textile industry, the catering services, various lawns and halls, and our beloved Band, Baja, Barat. It’s a fully powered saga.
This saga had come to a halt for a long time because of the ongoing pandemic. But as lockdown restrictions are being eased, the industry is warming up to the idea of a good wedding season.
Indian weddings will generate business worth of 3 Lakh Crore in next month
According to a report by a traders association Confederation of All India Traders (CAIT) estimated 25 lakh weddings are about to happen in just one month between 14 November-13 December. Weddings are likely to generate business worth ?3 lakh crore.
The association has estimated over 1.5 lakh weddings in Delhi alone. These Delhi weddings are expected to clock business of ?50,000 crores.
Whole industry is preparing for a good wedding season
According to CAIT, banquet halls, hotels, open lawns, farmhouses, and many other places for weddings are fully prepared across the country. It should be noted that wedding spending has a positive multiplier effect on other peripheral services as a variety of services get hired.
It should be noted that the lockdown curbs are not fully lifted as of now. Several states have allowed only 250 people at weddings. In Delhi, the number has been capped at 200 whereas in NCR the gathering places are allowed to operate at 50% capacity only. In Mumbai, too, venues are allowed to operate at 50% capacity.
The hospitality and transportation industry is also expected to make the most out of this wedding season.