“India’s Wedding Season Forecast: A ₹5 Lakh Crore Boost to Economy”
The grand wedding season anticipates a business surge of ₹5 Lakh Crore, with an estimated 38 lakh weddings poised to invigorate India’s economy. Businesses gear up for a monumental boost across goods and services, signaling a vibrant market ahead.
As the country readies for the upcoming wedding season, the business community anticipates a monumental economic surge, with an estimated 38 lakh weddings set to fuel a market boom worth ₹4.74 lakh crore across goods and services.
Commencing from November 23, the auspicious wedding season is forecasted to witness a substantial increase compared to last year’s trade, signaling a significant economic upswing. Key auspicious dates, from November 23 to December 15, are anticipated to witness a flurry of matrimonial celebrations, enticing businesses nationwide.
According to the Confederation of All India Traders (CAIT), consultations across 30 cities suggest a robust economic wave, with weddings expected to infuse ₹4.74 lakh crore into the market. CAIT foresees varied spending patterns, with weddings estimated to range from ₹3 lakh to over ₹1 crore in expenses.
Breaking down expenditure patterns, goods will witness significant trade in textiles, jewellery, electronics, food items, gifts, and miscellaneous products. Meanwhile, the services sector, including banquet halls, event management, catering, and more, is also expected to flourish.
CAIT officials project a bustling market, not only during the wedding season but also foreseeing its impact on subsequent festive seasons and the following wedding wave starting on January 14, aligning with Sankranti.
The economic landscape is set for an exuberant celebration, reflecting both the joy of matrimony and the vibrant market outlook, promising a substantial boost to India’s economy.
Sources By Agencies
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