Emerging out of the pandemic, the wedding season is likely to generate business worth Rs 5 lakh crore across the country between mid-April and July during which 40 lakh marriages are expected to be solemnised.
“There are 43 auspicious days for weddings in about three and a half months till mid-July. Wedding bells will ring almost every day. This has motivated the business community to make elaborate arrangements of wedding goods and services,” said the premier body of small and medium traders CAIT, which has collected data from more than eight crore traders affiliated with it.
In the last two years, because of Covid-19-related restrictions, there were very few weddings, which were also celebrated on a small scale. This resulted in business being dull in the past two years.
Data collected from across goods and services, jewellery, clothing, footwear, wedding cards, fruits, sweets, grocery, decoration and puja items, electrical utilities, electronics and gift items and services involving banquet halls, farmhouses, hotels, florists, catering and travel services cumulatively suggest an estimated Rs 5 lakh crore will be generated through weddings this season.
Besides these, photographers, videographers, band-baja, orchestra, horses for processions, wagons, lights and many other types of services are likely to do big business this time. Along with this, event management has also emerged as a big business prospect, said Praveen Khandelwal, general secretary of the small traders’ body.
He said Delhi alone is expected to generate business close to Rs 1 lakh crore, where three lakh weddings will take place in the next three months. The rest will come from all over the country.
According to Vedic scholar Acharya Durgesh Tare, there are 11 auspicious days for holding marriages in a span of 15 days in April. Almost half of May is auspicious for marriages and an equal number in June.
About five lakh weddings are likely to have an expenditure of Rs 15 lakh per wedding, an equal number are expected to be celebrated with a budget of Rs 20 lakh. The cost per wedding for about 10 lakh weddings is likely to be Rs 5 lakh, 10 lakh weddings will have an expenditure of Rs 10 lakh per wedding and so on, the data showed.
About 50,000 weddings are expected to incur Rs 50 lakh on the celebrations per wedding and an equal number Rs 1 crore on the celebrations.
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