CAIT estimates ₹4.25 trillion business from 23 days of Indian wedding season
₹4.25 trillion in just 23 days of this year's Indian wedding season. In the period between November 23 and December 15, around 3.5 million weddings are expected to be held, as per a survey conducted by CAIT Research & Trade Development Society.
These weddings will result in a purchases and services amounting to an estimated ₹4.25 trillion, the survey said, as per a Business Standard report. In the comparable period last year, a total of around 3.2 million weddings were held, resulting in a business of ₹3.75 trillion, the report added, citing the survey.
Out of the total estimated weddings this year, 10 percent or 3.5 lakh are expected to be held in Delhi alone, the survey reportedly noted. Among the total weddings, an estimated 50,000 will fall in the luxury category, with expenses of ₹1 crore or more, CAIT national president B C Bhartia and secretary general Praveen Khandelwal reportedly said.
Another 50,000 will feature expenses to the tune of ₹50 lakh per wedding, whereas, about 6 lakh weddings would be such where the estimated expenses would be around ₹25 lakh. The bulk of the weddings, nearly 1.2 million, are estimated to incur expenses of around ₹10 lakh, whereas, another 1 million weddings would incur expenses of about ₹6 lakh each."Exciting news! Mint is now on WhatsApp Channels
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