Wedding season to generate Rs 4.25 trillion in expenditure in November-December: Report

Wedding business revenue: As many as 3.5 million weddings are expected to be held in the period between November 23 and December 15 leading to purchases and services amounting to an estimated Rs 4.25 trillion, as per a survey conducted by Confederation of All India Traders (CAIT) Research & Trade Development Society.

Notably, 3.2 million weddings were held during November 23 and December 15 in 2023 at an expense of over Rs 4.25 lakh crore, according to the CAIT.

The first half of the year has already witnessed over 4.2 million weddings from January 15-July 15, with an estimated expenditure of Rs 5.5 lakh crore, the  survey by CAIT featured in stockbroking firm Prabhudas Lilladher’s report, ‘Band, Baaja, Baarat and Markets’ shows.

The increase in number of weddings and more expenditure is despite that FY25 has 49 muhurat days compared to 60 in FY24, as per a Motilal Oswal Financial Services report.  As many as 10 million weddings are hosted in India annually, making its wedding industry the second-largest globally.

Wedding planning site WedMeGood has reported that the Indian wedding industry is growing at an annual rate of 7-8 per cent.  

The CAIT survey has also revealed that from January 15 to July 15 this year, over 4.2 million weddings generated an estimated expenditure of Rs 5.5 trillion. The growth of the wedding industry has been buoyed by recent policy changes including a reduction in gold import duties from 15 per cent to 6 per cent. This move is expected to boost gold purchases, driven by the precious metal's cultural significance and investment appeal.