Big fat wedding season to begin; economy bets on windfalls
By Our Special Correspondent
New Delhi, January 12: The Makar Sankarnti is set to lift the gloom over the market places, as big wedding season will set in from January 15 for a fortnight during which trade bodies expect that 70 lakh couple in the country would tie the nuptial knots. The industry bodies expect that the wedding season would bring a windfall to the economy, as consumption would drive demand.
“The trading community across the country is in an upbeat mood and hoping for a much better business prospects as the next phase of wedding season is beginning from forthcoming January 15. Traders across the country including Delhi have made elaborate arrangements of stocks to meet the demand,” said BC Bhartiya of the Confederation of All India Traders (CAIT).
The trade body is expecting that around 70 lakh wedding will be solemnised all over the country in the fortnight, “with a massive flow of about Rs 13 lakh crores by way of wedding purchasing and utilization of various wedding related services by the people”.
Delhi alone is expected to witness more than seven lakh weddings, which will bring an estimated expenditure of about Rs 1.25 lakh crores, added the CAIT.
The trade body said that last year in the month of November-December, 32 lakh marriages were solemnised all over the country with an expenditure of Rs 3.75 lakh crore. It also stated that the six month long marriage season will have 53 auspicious days for marriage, which may see about 10 lakh weddings. The trade body claimed that each wedding for 10 lakh will have an average expenditure of Rs 3 lakh per wedding, while for another the average cost would be Rs 5 lakh, and additional 15 lakh weddings will incur an average cost of Rs 15 lakh. Another 10 lakhs marriages will cost on average Rs 25 lakhs per marriage, going upwards more numbers, added the trade body.
There will be two lakh marriages in the country with an average expense of each wedding of Rs 1 crore or more amount, said the CAIT.
The trade body has even estimated that “about 20 per cent of the expenditure of each marriage goes to the groom-bride’s side, while 80 per cent of the expenditure goes to other third agencies working in solemnizing the marriage and notably this money does not get stuck but keeps rolling in the markets by way of expenditures of different kinds by the people and helps in maintaining financial liquidity in the markets”.
Acharya Durgesh Tare, Chairman of Spiritual and Vedic Knowledge Committee of CAIT from Ujjain, said that according to the calculation of stars the auspicious days include nine days in January, 14 days in February, six days in March, 13 days in May and 11 days in June month, bringing a total of 53 auspicious days.
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