Kolkata: a wedding He is surrounded by thousands of dreams and hopes. Many people start dreaming of their children’s marriage from childhood. Marriage is no longer a marriage, but marriage has become a status symbol. The competition is about who can get married with much fanfare. As earlier marriage had to be paid, now it has become a ‘gift’. From lakhs of rupees in cars to crores of rupees in houses – everything falls under this gift. Even in the recession market, the cost of marriage did not fall. Marriage is currently the fourth-largest industry in the country.
At first glance, it may seem that how much or how much can be spent on a wedding? But those who have just married or are preparing for marriage, are acutely aware of how the costs have increased. Not only the cost of rent, food, and drink. There are also expenses from the two families giving each other gifts to renovate or build a new house. 70 to 80 percent of savings in a family is spent on marriage.
Recently, a study by the Confederation of All India Traders, the largest tradesmen’s organization, found that lakhs of crores of rupees are generated annually from marriage alone. A record 35 lakh marriages have taken place in the country so far in 2023. 4.25 lakh crore business has been done this year based on this marriage. Last year there were 32 lakh marriages in the country. It generated an income of Rs.3.75 lakh crore.
How much does the wedding cost?
In the current year, about 12 lakh weddings in the country are being spent on an average of 10 rupees. About 25 lakhs have been spent by the bride and groom in about 6 lakh weddings. About 50 thousand wedding budget is 50 lakh rupees. More than 50,000 wedding budgets are above crores of rupees.
According to a report by KPMG, in 2016 alone, weddings in India generated business worth Rs 3.68 trillion. In 2022, compared to 2019, the monthly income of traders associated with the marriage business increased by 42.5 percent. 31 percent of merchants almost doubled their charges as demand increased. The cost of workers has also increased.
How much does a sector cost?
jewelry– About 60 thousand crores worth of jewelry is bought in our country every year.
clothing– Everyone has a thousand dreams about their wedding, so don’t skimp when it comes to buying a wedding dress. An estimated 10,000 crore rupees worth of clothes are bought for weddings every year.
the hotel– 5000 crore rupees are spent on hotel bookings for weddings every year.
There are multiple wedding dates in the next two months. There will be thousands of weddings on just a handful of wedding dates. Besides, for those who are getting married between January and July next year, the wedding preparations are almost done. From wedding booking to catering, business worth lakhs of rupees has already been done. When the rest of the preparations start, this sum will reach crores. In a word, the businessmen are the goods around the four hands.
