Here’s why the Indian wedding season is projected to be $51 billion affair

The Confederation of All India Traders (CAIT) has released estimates for this year’s Indian wedding season saying that the wedding industry will earn an estimated $51 billion during the peak wedding season between November 23 and December 15 as per a survey conducted by CAIT.

This figure marks a $7billion increase from the previous year’s $45 billion, showcasing the economic impact of these matrimonial celebrations, Mint reported. The research arm of CAIT said that approximately 3.5 million marriage are expected to take place during this period which is the reason for the substantial economic influx.   

A Moneycontrol report cited BC Bhartia, the National President of CAIT, who commented on the growth saying, “In Delhi alone, more than 3.5 lakh marriage are expected to take place in this season, which is likely to generate a business of about Rs 1 lakh crore ($12 billion) in Delhi itself.”  

It is estimated an additional six lakh marriage are expected to incur expenses of around $30,000. The majority of the celebrations which are going to be approximately 1.2 million wedding which will adhere to a budget of around $12,000, while an additional one million weddings are likely to have expenses of about $7,200 each.

The Indian marriage season will also bring in a demand for banquet halls, hotels, open lawns, community centres, public parks, farmhouses, and other venues across the country. Furthermore, a number of services including tent decorators, flower arrangements, crockery, catering, travel services, cab services, photography, videography, music, and event management are also expected to contribute to this multi-billion dollar industry, Moneycontrol reported.   

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