48 lakh Indian shaadi set to fuel Rs 6 lakh crore business boom in India: Here's how!

Shaadi time: The big fat Indian wedding season is here and traders are bullish over what they are likely to rake in. According to the Confederation of All India Traders (CAIT) the retail sector is likely to get a big boost in November with 48 lakh weddings likely to take place across India, churning business worth Rs 6 lakh crore.Last year, India hosted some 35 lakh weddings during the season and generated business worth Rs 4.25 lakh crore.There's an increase in the number of auspicious dates in 2024, which has directly led to an increase in the number of weddings as well, says CAIT. while 2023 had 11 dates, 2024 has 18.Delhi will likely host 4.5 lakh weddings this month, contributing to Rs 1.5 lakh crore to the economy.Acharya Durgesh Tare, Convenor of CAIT’s Veda and Spiritual Committee states that the auspicious dates for the season fall on November 12, 13, 17, 18, 22, 23, 25, 26, 28, and 29, and on December 4, 5, 9, 10, 11, 14, 15, and 16.There's a lull after these days for about a month before the season resumes again from mid-January to March 2025. CAIT claims its estimates are based on discussions with major business organisations across 75 cities, particularly with companies involved in wedding related goods and services.CAIT’s Secretary General and Member of Parliament from Chandni Chowk Praveen Khandelwal said the study has also highlighted a shift in consumer purchasing behaviour."Indian families are increasingly choosing Indian goods over international brands, showing the quality Indian brands are now bringing to the table," Khandelwal said.CAIT National President BC Bhartia provided a breakdown of expected wedding expenses, estimating that 10 lakh weddings will involve spending of Rs 3 lakh per wedding, 10 lakh with Rs 6 lakh per wedding, 10 lakh with Rs 10 lakh per wedding, 10 lakh with Rs15 lakh per wedding, 7 lakh with Rs25 lakh per wedding, 50,000 with Rs50 lakh per wedding, and 50,000 weddings with Rs 1 crore or more per wedding.Khandelwal also said that while these estimates were based on auspicious dates, multiple weddings would also occur on non-auspicious dates.Additionally, various pre-wedding functions, like mehendi, sangeet, and engagements, also represent significant expenses.Breaking down the expenses, Khandelwal said, the expenses involved spending on clothing, sarees, lehengas, and apparel at 10 percent;jewelry, around 15 percent; appliances around 15 percent; dry fruits, sweets and snacks around five percent; grocery and vegetables around five percent; gift items at around four percent; and other goods at six percent.In the services sector, expenditure on banquet halls, hotels, and venues are likely to be around five percent; event management - around three percent; tent decoration around 10 percent, catering services around 10 percent, floral decoration around four percent, transportation and cab services around three percent, photography and videography at around two percent, orchestra and music at around three percent, lighting and sound at around two percent, orchestra and music at around three percent and other services around seven percent.A new business opportunity has opened for social media content creators as most weddings are engaging social media agencies to give their wedding videos and images a social media splash.

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48 lakh Indian shaadi set to fuel Rs 6 lakh crore business boom in India: Here's how!

The Big Fat Indian Wedding season is here and its boom time for Indian retail. CAIT ahs some early estimates.

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