Navratri, Dhanteras and Diwali After the tremendous sales, now traders across the country are busy preparing for the upcoming wedding season. According to a study conducted by the Confederation of All India Traders (CAIT), around 48 lakh marriages are expected to take place in November-December which is expected to generate business worth around Rs 6 lakh crore. Last year, a total business of Rs 4.25 lakh crore was generated from 35 lakh weddings in this season. This year, significant growth in business is expected due to increase in the dates of auspicious marriage time. There were 11 auspicious Muhurtas in the year 2023, whereas this year there are 18 Muhurtas which are likely to boost business further. An estimated 4.5 lakh weddings in Delhi alone are expected to generate business worth Rs 1.5 lakh crore this season.
18 auspicious times for weddings this time
According to Acharya Durgesh Tare, convenor of Veda and Spirituality Committee of CAT, in this year's wedding season, the auspicious dates in November are 12, 13, 17, 18, 22, 23, 25, 26, 28 and 29, while in December these dates are are 4, 5, 9, 10, 11, 14, 15 and 16. After this, there will be a break in the wedding season for about a month and will start again from mid-January to March 2025. CAT has made this estimate based on data obtained from discussions with major trade organizations dealing in wedding-related goods and services in 75 major cities across the country.
Increased interest in buying Indian products
National General Secretary of CAT and MP from Chandni Chowk, Delhi, Praveen Khandelwal said that this study has also revealed that there has been a big change in the purchasing behavior of consumers and they are now giving more preference to buying Indian products than foreign goods. Which is a major success of Prime Minister Narendra Modi's 'Vocal for Local' and 'Atmanirbhar Bharat' vision. Strengthens the campaign. CAT National President Shri B. Giving details of wedding expenses, C. Bhartia said that this season, according to estimates, there will be 10 lakh marriages across the country, expenditure of Rs 3 lakh, 10 lakh marriages, expenditure of Rs 6 lakh, 10 lakh marriages, expenditure of Rs 10 lakh, 10 lakh marriages, Rs 15 lakh marriages, Rs 7 lakh marriages, Rs 25 lakh marriages, 50,000 marriages, Rs 50 lakh marriages and 50,000 marriages will be conducted at an expenditure of Rs 1 crore or more. According to Khandelwal, the wedding expenditure is divided between goods and services which mainly includes textiles, sarees, lehengas, and other apparel at 10%, jewelery at 15%, electronics, power tools, and consumer durables at 5%, dry Nuts, sweets, and snacks account for 5%, groceries and vegetables account for 5%, gift items account for 4%, and other items account for 6%.
Good signs for Indian economy
He said that on the other hand, the wedding services sector includes banquet halls, hotels, and wedding venues 5%, event management 3%, tent decoration 10%, catering and services 10%, flower decoration 4%, transportation and cab services 3%, photography And videography is estimated to be 2%, orchestra, music etc. 3%, light and sound 3% and other services 7%. He also said that a new trend since last year is increasing use of social media services for weddings. Is of expense. Khandelwal described this long wedding season and festival sales together as an unprecedented boost to the Indian economy, which will benefit various industries and businesses across the country. These sectors are expected to increase their production capacity, improve business practices and adopt more advanced digital technologies.
Image Credit: India_Tv.