India Set For Highest-Ever Wedding Business In 2023: 35 Lakh Weddings To Generate Rs 4.25 Lakh Crore

This year is expected to witness a record-breaking wedding season in India, with approximately 35 lakh weddings and a business estimated at around Rs 4.25 lakh crore, according to a survey conducted by the research arm of the Confederation of All India Traders (CAIT).

Delhi’s Wedding Season Extravaganza:

In Delhi alone, more than 3.5 lakh weddings are anticipated during this season, generating a business estimated at around Rs 1 lakh crore. Last year, Delhi witnessed around 32 lakh weddings during the same period, with expenses totaling approximately Rs 3.75 lakh crore. B C Bhartia, National President of CAIT, shared these insights.

ALSO READ || Google To Manufacture Pixel Smartphones In India, 1st Batch In 2024

Expenditure Breakdown:

During the 23 days of the wedding season, it is projected that about 6 lakh weddings will have an estimated expenditure of Rs 3 lakh per wedding, while approximately 10 lakh weddings will cost around Rs 6 lakh per wedding.

An estimated 12 lakh weddings will have a budget of about Rs 10 lakh per wedding, 6 lakh weddings will witness expenses of Rs 25 lakh per wedding, and 50,000 weddings are expected to have an expenditure of Rs 50 lakh per wedding. Additionally, 50,000 weddings are projected to have a budget exceeding Rs 1 crore.

Upcoming Wedding Season Phases:

The upcoming wedding season is divided into two phases. The first phase will begin from November 23 and continue until December 15, and the second phase will commence in mid-January and extend through July.

Elaborate Preparations by Traders:

In light of the promising business prospects for the wedding season, traders across the country are making extensive preparations.

Various service providers, including tent decorators, flower decorators, crockery, catering services, travel services, transportation, photographers, videographers, music bands, and event management companies, are set to thrive with the surge in weddings.

ALSO READ || Space Station By 2035: PM Modi Gives New Task To ISRO – Details Inside

The wedding industry in India encompasses a diverse range of businesses, including banquet halls, hotels, open lawns, community centers, public parks, farmhouses, and numerous other venues.

A significant portion of each wedding’s expenditure is allocated to various services, with 20% going to the bride and groom’s families and 80% supporting third-party agencies involved in wedding planning and execution.

The Indian wedding industry’s buoyant preparations are poised to cater to the forthcoming rush of customers, ensuring that each wedding is a memorable and grand celebration.

ALSO READ || BIG! UNESCO Adds India’s Santiniketan In World Heritage List, Leaders Reacts

You may also like

Leave a reply

Your email address will not be published. Required fields are marked *

More in Must Read