My Account
Follow us on:
Powered By
Find & Invest in bonds issued by top corporates, PSU Banks, NBFCs, and much more. Invest as low as 10,000 and earn better returns than FD
Invest Now
Powered By
Unlock Your Trading Potential: Trade like Experts with SEBI registered creators, Learn from Courses & Webinars by India’s Finest Finance Experts.
Invest Now
AMBAREESH BALIGA
Fundamental, Stock Ideas, Multibaggers & Insights
Subscribe
CK NARAYAN
Stock & Index F&O Trading Calls & Market Analysis
Subscribe
SUDARSHAN SUKHANI
Technical Call, Trading Calls & Insights
Subscribe
T GNANASEKAR
Commodity Trading Calls & Market Analysis
Subscribe
MECKLAI FINANCIALS
Currency Derivatives Trading Calls & Insights
Subscribe
SHUBHAM AGARWAL
Options Trading Advice and Market Analysis
Subscribe
MARKET SMITH INDIA
Model portfolios, Investment Ideas, Guru Screens and Much More
Subscribe
TraderSmith
Proprietary system driven Rule Based Trading calls
Subscribe
Curated markets data, exclusive trading recommendations, Independent equity analysis & actionable investment ideas
Subscribe
Curated markets data, exclusive trading recommendations, Independent equity analysis & actionable investment ideas
Explore
STOCK REPORTS BY THOMSON REUTERS
Details stock report and investment recommendation
Subscribe
POWER YOUR TRADE
Technical and Commodity Calls
Subscribe
INVESTMENT WATCH
Set price, volume and news alerts
Subscribe
The wedding business this year is expected to register a record with around 35 lakh weddings and a business of around Rs 4.25 lakh crore, the highest ever, according to a survey conducted by the research arm of Confederation of All India Traders (CAIT).
Traders across the country including Delhi are gearing up and preparing themselves for the upcoming wedding season, the first spell of which will begin from November 23 till December 15.
Also read: IPL, G20, upcoming wedding season to boost hospitality business in India, says Puneet Chhatwal, The Indian Hotels
“In Delhi alone, more than 3.5 lakh weddings are expected to take place in this season, which is likely to generate a business of about Rs 1 lakh crore in Delhi itself. Last year, around 32 lakh weddings took place in the same period and expenses were estimated at Rs 3.75 lakh crore,” said B C Bhartia, National President, CAIT.
Also read: 32 lakh weddings in India during November 4-December 14 to generate Rs 3.75 lakh crore business: CAIT
In the 23 days of the wedding season, about 6 lakh weddings will have an estimated expenditure of Rs 3 lakh per wedding, while in about 10 lakh weddings the cost per wedding will be around Rs 6 lakh per wedding, said CAIT Secretary General, Praveen Khandelwal. “Around 12 lakh weddings will cost about Rs 10 lakh per wedding, 6 lakh weddings will cost Rs 25 lakh per wedding, 50,000 weddings will have Rs 50 lakh expenditure and 50,000 weddings will have a budget of Rs 1 crore or more.”
Also read: Wedding market back in swing: Demand for jewellery, edible oils and sugar rise, say experts
The next phase of the wedding season will start from mid- January and will be continued till July.
“In view of the good business prospects of the wedding season, traders across the country have made elaborate preparations. Traders are keeping all arrangements up to date with them to meet the possible rush of customers. They said that about 20 percent of the expenditure of each marriage goes to the broom-bride’s side while 80 percent of the expenditure goes to other third agencies working in solemnizing the marriage,” said Bhartia.
Also read: Wedding attire sales lose lustre amid changing trends and economic factors
The banquet halls, hotels, open lawns, community centres, public parks, farm houses and many other types of places for weddings are fully prepared across the country including Delhi, said Khandelwal.
“In addition to the purchase of accessories at each wedding, a wide variety of services are also involved, including tent decorators, flower decorations, crockery, catering service, travel service, cab service, welcoming professional groups, vegetable vendors, photographers, videographer, band-baja, shehnai, orchestra, DJ, horses for the procession, 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,” he said.
Discover the latest business news, Sensex, and Nifty updates. Obtain Personal Finance insights, tax queries, and expert opinions on Moneycontrol or download the Moneycontrol App to stay updated!
Copyright © e-Eighteen.com Ltd. All rights reserved. Reproduction of news articles, photos, videos or any other content in whole or in part in any form or medium without express writtern permission of moneycontrol.com is prohibited.
You are already a Moneycontrol Pro user.
Access your Detailed Credit Report – absolutely free
India to record highest-ever business from 35 lakh weddings in 2023 at Rs 4.25 lakh crore – Moneycontrol
Leave a comment