The Confederation of All India Traders (CAIT) released data, according to which 46 lakh Indian weddings are anticipated in the coming two months. This opens the door for all Indian retail businesses and brings an expectation of a business surge of Rs. 6 lakh crore.

The coming months, which are recognized as auspicious dates for Hindu weddings according to beliefs, will keep the business industry on its toes. The market focus will shift from festivals to the wedding season, calling for Indian-made goods to drive growth. The wedding season will bring spending across all types of wedding-related products and service-based businesses.

🚨 India expects 48 lakh weddings in the next two months; may generate ₹6 lakh crore in business: CAIT pic.twitter.com/Ur96oOLMm6

— Indian Tech & Infra (@IndianTechGuide) November 3, 2024

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Wedding Season To Open The Gateway Of Business Opportunity

• For Market Lovers: Market enthusiasts, traders, and investors should observe consumer behavior, which acts as a determinant for market trends, particularly concerning precious metals like gold and silver. The prices of these metals fluctuate widely, especially during wedding and festival seasons. According to data, jewelry comprises 9% and textiles and garments make up 12% of overall sales. Why? Because Gold is considered auspiciously significant in most cultures, not only in Hinduism but also in many other religions. These cultural beliefs form the basis for the constant demand for gold and silver, as people buy these metals for jewelry, gifts, and other ceremonial purposes.  Moreover, investors might consider stocks or shares of companies that cater to the wedding season. Companies specializing in bridal attire, accessories, and gifts could see a revenue boost.
• Product Industry: Companies specializing in wedding-related products may experience a surge in orders as the wedding season approaches. However, not all well-established companies may be prepared for this demand. The product industry spans areas like lifestyle goods, electronics, fashion, clothing, and jewelry. Relevant businesses are expected to gear up to meet the diverse needs of newlyweds, helping them create memorable experiences for their special day. This is an excellent opportunity for popular brands and newcomers alike to cater to wedding-related demands.. This is an excellent opportunity for popular brands as well as newcomers to come and satisfy all those wedding-related needs!
• Service Industry: The service industry is gearing up for a busy wedding season, which includes catering, venues, event planning, transportation, photography, and wedding consulting. High demand for services at wedding venues translates to good business and profit for those involved. Companies should capitalize on this opportunity, enabling couples to create cherished memories.

Praveen Khandelwal, Secretary General of CAIT and Member of Parliament, supports local products, stating that it helps the country grow. According to him, the government is encouraging the ‘Vocal for Local’ campaign, an initiative to motivate individuals to shop locally. By patronizing local products, we not only support the economy but also help build our communities.

“This season reflects Prime Minister Narendra Modi’s ‘Vocal for Local’ initiative, with more consumers opting for Indian goods over foreign alternatives,” noted CAIT Secretary General and Member of Parliament Praveen Khandelwal.

Business Industry To Fasten Its Seatbelts Ahead Of The Auspicious Dates!

Acharya Durgesh Tare, Convenor of CAIT’s Veda and Spiritual Committee, has shared a list of auspicious dates: November 12, 13, 17, 18, 22, and December 4, 5, and 9, among others. This wedding season will see a month-long pause after December 16 and will resume in mid-January, continuing through March 2025.

The Secretary General of CAIT stated that this post-festival wedding season will lift up the economy and be fruitful for most businesses within the country. These businesses should increase production, upgrade trading, and use newer, more advanced digital technology.