Business news: Confederation of All India Traders (CAIT) has said that it is expecting an expenditure of Rs 4.74 lakh crore in the upcoming wedding season starting from November 23 to December 15, which is likely to record nearly 38 lakh marriages. The expenditures related to wedding purchases and procurement of various services by consumers this season are almost Rs 1 lakh crore more than the year-ago period, the traders’ body said on Tuesday (November 21).
The CAIT’s estimates are based on inputs from trade bodies in 30 cities in various states and stakeholders in goods and services.
"During this period (November 23-December 15), it is estimated that around 38 lakh weddings will be solemnised with a total expenditure of around Rs 4.7 lakh crore," CAIT Secretary General Praveen Khandelwal said.
"Last year, there were almost 32 lakh weddings with a total expenditure of Rs 3.75 lakh crore. So, this year there is (expected to be) an increase (in expenditure) of almost Rs 1 lakh crore which is a good sign for the Indian economy and retail trade," he added.
The CAIT said that the wedding dates in the season are November 23, 24, 27, 28, and 29, and December 3, 4, 7, 8, 9 and 15.
Khandelwal said that in Delhi alone, over 4 lakh weddings are expected this season, which could generate a business of about Rs 1.25 lakh crore.
