India’s retail sector is set to experience a significant economic boost during the upcoming wedding season, starting November 12, 2024, with business expected to reach an impressive Rs 5.9 trillion.
According to a study by the Confederation of All India Traders (CAIT), this surge is driven by an estimated 4.8 million weddings across the country, marking a substantial increase from last year’s Rs 4.25 trillion, which saw 3.5 million weddings.
The season's expansion is also attributed to a rise in auspicious wedding dates, with 18 this year compared to 11 last year.
Delhi alone is projected to host around 450,000 weddings, contributing Rs 1.5 trillion to the overall business. The wedding season will span from November 12 to December 16, with a brief pause before resuming in January 2025.
CAIT National Secretary General Praveen Khandelwal emphasized that the growing preference for Indian-made products, in line with Prime Minister Narendra Modi’s ‘Vocal for Local’ and ‘Atmanirbhar Bharat’ initiatives, will further fuel this economic activity.
CAIT President BC Bhartia outlined the range of wedding expenditures, with budgets ranging from Rs 3 lakh to over Rs 1 crore per wedding.
The booming wedding season is expected to benefit both goods and services sectors, including:
Goods: Apparel (10%), jewellery (15%), electronics (5%), groceries (5%), and gifts (4%).
Services: Venues (5%), event management (5%), catering (10%), tent decoration (12%), photography (2%), and more.
The momentum from the wedding season is expected to continue into the Christmas and New Year celebrations, followed by another wave of weddings in January 2025, providing a substantial boost to India’s economy. Businesses are preparing to ramp up production and adopt advanced digital technologies to meet the growing demand.
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