CAIT Estimates 3 lakh Cr Business Amid Upcoming Wedding Season
It is expected that from November 14 to December 13, around 25 lakh weddings will be solemnised in India which can lead to a business of about 3 lakh crore.
Amid the ongoing Coronavirus pandemic, which affected the wedding industry, the Confederation of All India Traders (CAIT) on Tuesday said that the trade body is expecting a total of 3 lakh crore business in the upcoming wedding season.
The trade body said that encouraged by the vigorous business in the festive season of Diwali this year, traders across the country including Delhi are now preparing themselves for one another bonanza for the forthcoming wedding season.
It is expected that from November 14, the day of Dev Uthan Ekadashi till December 13, around 25 lakh weddings will be solemnised in India which can lead to a business of about 3 lakh crore.
The CAIT in a statement said that in Delhi alone, more than 1.5 lakh weddings are expected to take place in this season, which is likely to generate a business of about Rs 50,000 crore. In the last two years, due to COVID-19 and many restrictions imposed by the government, marriages were held on a very small scale resulting in a very dull market in the past wedding seasons.
CAIT National President BC Bhartia and Secretary General Praveen Khandelwal in a joint statement said, "In view of the good business prospects of the wedding season, traders across the country have made elaborate preparations, as they will want to continue the sentiments emanated from just concluded record business figures of Diwali this year. Traders are keeping all arrangements up to date to meet the possible rush of customers."
"Banquet halls, hotels, open lawns, farmhouses and many other types of places for weddings are fully prepared across the country including Delhi. In addition to the purchase of accessories at each wedding, a wide variety of services are also involved, including tent decorators, flower decorations, crockery, catering service, travel service, cab service, lights and many other types of services are likely to do big business this time, the joint statement added.
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