India expects 48 lakh weddings in the next two months; may generate ₹6 lakh crore in business: CAIT

As the wedding season approaches in India, traders are gearing up for a prosperous period. The Confederation of All India Traders (CAIT) has projected that there will be a staggering 48 lakh weddings across the country this November and December.

According to CAIT, these weddings are expected to generate ₹6 lakh crore in business.

Specifically, in Delhi alone, approximately 4.5 lakh weddings are anticipated, contributing around ₹1.5 lakh crore to the local economy.

With the wedding season kicking off on November 12, 2024, retailers across India are preparing for a remarkable economic uplift.

CAIT’s recent study highlights that the retail sector, encompassing both goods and services, is expected to achieve a total turnover of ₹5.9 lakh crore during this festive time.

In line with this trend, Suvankar Sen, MD & CEO of Senco Gold, reported a surge in wedding-related gold purchases during Dhanteras.

He noted that many consumers are preparing for the busy wedding season spanning from November 2024 through February 2025.

In an interview with CNBC TV-18, Sen explained that a duty cut in August sparked early interest, resulting in increased footfall in stores and the beginning of wedding season buying.