Grand wedding season anticipation: Rs 4.74 lakh crore boost to Indian markets
Post by ANI on Tuesday, November 21, 2023
As the nation emerges from a record-breaking Diwali festive season, the business community is gearing up for a colossal surge in demand with the commencement of the upcoming wedding season on November 23.
With an estimated 38 lakh weddings expected to take place across the country, the mainline retail sector, encompassing goods and services, anticipates a staggering business worth Rs 4.74 lakh crore.
This marks a significant increase from last year's trade, which amounted to Rs 3.75 lakh crore for approximately 32 lakh weddings during the same period.
The auspicious wedding season, commencing on Dev Uthan Ekadashi on November 23 and extending until December 15, will witness a flurry of ceremonies as stars align for propitious wedding dates.
Calculations indicate that November 23, 24, 27, 28, and 29, along with December 3, 4, 7, 8, 9, and 15, are deemed auspicious for matrimonial celebrations.
The Confederation of All India Traders (CAIT), after consultations with trade bodies and stakeholders across 30 cities, predicts a substantial economic surge.