New Delhi: Traders' body CAIT on Tuesday said it is expecting an expenditure of Rs 4.74 lakh crore in the upcoming wedding season from November 23 to December 15, which is likely to see almost 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 Confederation of All India Traders (CAIT) said.
The estimates are based on inputs from trade bodies in 30 cities in different 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 told PTI on the sidelines of a press conference.
"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 said.
The wedding dates during the season are November 23, 24, 27, 28, 29, and December 3, 4, 7, 8, 9 and 15, CAIT said.
Khandelwal said in Delhi alone over 4 lakh weddings are expected this season, which could generate a business of about Rs 1.25 lakh crore.
Published 21 November 2023, 12:45 IST