Kanvic Consulting’s Post

𝗧𝗵𝗲 𝗜𝗻𝗱𝗶𝗮𝗻 𝗪𝗲𝗱𝗱𝗶𝗻𝗴 𝗦𝗲𝗮𝘀𝗼𝗻 𝘁𝗼 𝗗𝗿𝗶𝘃𝗲 ₹𝟱.𝟵 𝗟𝗮𝗸𝗵 𝗖𝗿𝗼𝗿𝗲 𝗘𝗰𝗼𝗻𝗼𝗺𝗶𝗰 𝗦𝘂𝗿𝗴𝗲 The Indian wedding season is back, and it’s bigger than ever. Beginning November 12, 2024, the wedding industry is projected to generate a massive ₹5.9 lakh crore in revenue, according to CAIT (Confederation of All India Traders). This season will witness a record 48 lakh weddings, up from last year's 35 lakh, fueling unprecedented growth across sectors. 𝗘𝗰𝗼𝗻𝗼𝗺𝗶𝗰 𝗕𝗿𝗲𝗮𝗸𝗱𝗼𝘄𝗻 • Delhi alone will host 4.5 lakh weddings, contributing ₹1.5 lakh crore. • Weddings range in budgets from ₹1 crore to ₹3 lakh, spanning all economic tiers. • Spending on goods will total approx. ₹3.54 lakh crore with major contributions from jewelry (15%), apparel (10%), and electronics (5%). • Services will account for approx. ₹2.36 lakh crore, led by tent decoration (12%), catering (10%), and venues (5%). 𝗔𝘂𝘀𝗽𝗶𝗰𝗶𝗼𝘂𝘀 𝗗𝗮𝘁𝗲𝘀 𝗗𝗿𝗶𝘃𝗲 𝗗𝗲𝗺𝗮𝗻𝗱 The wedding season runs from November 12 to December 16 and resumes January 16, 2025. With 18 auspicious dates—more than last year’s 11—demand has surged, adding momentum to economic activity. 𝗦𝗵𝗶𝗳𝘁 𝘁𝗼 𝗟𝗼𝗰𝗮𝗹 𝗣𝗿𝗼𝗱𝘂𝗰𝘁𝘀 As CAIT's Praveen Khandelwal highlighted, the 'Vocal for Local' initiative has driven a preference for Indian-made goods, which are overtaking international products in wedding markets. 𝗪𝗵𝘆 𝗧𝗵𝗶𝘀 𝗠𝗮𝘁𝘁𝗲𝗿𝘀 This surge will boost the economy, creating jobs across sectors from event management to hospitality, and reinforcing India’s cultural and economic interconnection. The upcoming wedding season is not just about celebrations—it’s set to power India’s economy in remarkable ways. #investmentbanking #equityresearch

The Great Indian Wedding Boom!!💍 Let's talk about something beyond books and publishing that India is all set to witness a wedding extravaganza of unmatched proportions, with 4.8 million couples tying the knot this season. Beyond the joy and celebrations, these weddings are sparking an economic surge worth a whopping ₹5.9 trillion!👫🏻💎 From elaborate décor to grand feasts and designer outfits, the ripple effect of this "wedding rush" is invigorating various industries—hospitality, retail, jewellery, event management, and even logistics. Vendors, artisans, and service providers are witnessing a business boom, reinforcing how Indian weddings are not just cultural milestones but also economic powerhouses. 📈 For entrepreneurs and professionals, this is a golden opportunity. Whether you're in event planning, catering, or digital media, aligning your business strategy with the wedding season could yield immense benefits.📊 What’s your take on this grand celebration? Are you a part of this season’s wedding boom? Let’s discuss! 💍 #indianwedding #weddingtime #economicgrowth #risingeconomy #businessgrowth

🎉 𝐈𝐧𝐝𝐢𝐚𝐧 𝐖𝐞𝐝𝐝𝐢𝐧𝐠 𝐒𝐞𝐚𝐬𝐨𝐧 𝟐𝟎𝟐𝟒: 𝐀 𝐁𝐢𝐥𝐥𝐢𝐨𝐧-𝐃𝐨𝐥𝐥𝐚𝐫 𝐂𝐞𝐥𝐞𝐛𝐫𝐚𝐭𝐢𝐨𝐧! 💍🇮🇳 India is gearing up for one of the most exciting wedding seasons, starting November 12, 2024, with an estimated 𝟒𝟖 𝐥𝐚𝐤𝐡 𝐰𝐞𝐝𝐝𝐢𝐧𝐠𝐬 set to take place across the country. According to the latest report by the Confederation of All India Traders (CAIT), this season is expected to generate a staggering ₹𝟓.𝟗 𝐥𝐚𝐤𝐡 𝐜𝐫𝐨𝐫𝐞 (₹5.9 trillion) in business! 🚀 💡 𝐊𝐞𝐲 𝐇𝐢𝐠𝐡𝐥𝐢𝐠𝐡𝐭𝐬: • Massive Volume of Weddings: 4.8 million weddings are anticipated this season, compared to 3.5 million last year. • 𝐄𝐜𝐨𝐧𝐨𝐦𝐢𝐜 𝐁𝐨𝐨𝐬𝐭: A significant jump from ₹4.25 lakh crore in 2023 to ₹5.9 lakh crore in 2024. • 𝐌𝐨𝐫𝐞 𝐀𝐮𝐬𝐩𝐢𝐜𝐢𝐨𝐮𝐬 𝐃𝐚𝐭𝐞𝐬: 18 wedding-friendly dates this year vs. 11 last year. • 𝐌𝐚𝐣𝐨𝐫 𝐁𝐞𝐧𝐞𝐟𝐢𝐜𝐢𝐚𝐫𝐢𝐞𝐬: Retail, jewelry, hospitality, catering, and even the automobile industry are set to see substantial growth. This surge reflects the resilience of the Indian economy and the vibrant cultural significance of weddings in our society. 🌟 📈 𝐖𝐡𝐚𝐭 𝐈𝐭 𝐌𝐞𝐚𝐧𝐬 𝐟𝐨𝐫 𝐁𝐮𝐬𝐢𝐧𝐞𝐬𝐬𝐞𝐬: With increased consumer spending on clothing, jewelry, décor, and more, this is a golden opportunity for retailers, service providers, and the hospitality sector to thrive. Let’s make the most of this season and celebrate love while contributing to economic growth! 🛍️🍴🎶 #IndianWeddings #RetailGrowth #Economy #WeddingSeason #BusinessBoost

⭐The Wedding Industry in India Shines Bright in 2024! According to the latest report by WedMeGood, the Indian wedding industry has reached a remarkable milestone, clocking Rs 4.74 trillion in earnings for 2023—a substantial 26.4% increase compared to 2022! This growth makes the wedding industry the fourth largest in India, driven by: Increasing urbanisation  ️ Rising disposable income The rise of wed-tech Social media influence WedMeGood's comprehensive annual survey, which polled over 2400 brides and grooms and gathered insights from 500 wedding vendors, highlights evolving trends and dynamics within the industry. The survey provides a glimpse into the upcoming wedding season, revealing shifting preferences between September 2023 and April 2024. The future of weddings in India looks incredibly promising and vibrant! Dheera Likhi Khurram Khan #WeddingIndustry #IndiaWeddings #WedMeGood #IndustryGrowth #Urbanisation #WedTech #SocialMediaInfluence #Trends2024

Title: The Economic Impact of Big Fat Indian Weddings As I reflected on the recent grand wedding of Akash Ambani, son of business magnate Mukesh Ambani, I couldn't help but notice the backlash surrounding the estimated ₹100 crore (approximately $14 million USD) spent on the celebrations. While some criticize the extravagance, I'd like to offer a different perspective. Remember, a coin has two sides - which part do you want to see? When a high-profile wedding like this takes place in India, it's not just the Ambani family who benefits. The economic ripple effects are far-reaching, creating opportunities for numerous individuals and businesses. Consider the various stakeholders involved: - Decorators and event managers - Fashion designers and stylists - Makeup artists and mehndi specialists - Catering services and hospitality staff - Transportation providers - Local vendors and suppliers These individuals and businesses earn a significant income from such events, which can be a substantial boost to their livelihood. In essence, the Ambani wedding has created a mini-economic stimulus package! Rather than criticizing the expenses, we should acknowledge the positive impact on the economy and the lives of those involved. Such events showcase India's rich cultural heritage and hospitality, promoting tourism and cultural exchange. Let's shift our focus from the amount spent to the opportunities created. By doing so, we can appreciate the economic benefits of big fat Indian weddings like the Ambani celebration. #BigFatIndianWedding #EconomicImpact #OpportunityCreation #IndianEconomy #CelebratingIndia Let me know your thoughts!

There’s a wedding in my family today. I won’t be going because I got an exam tomorrow (You shall be missed, shaadi food 😔) but it did make me wonder- How is the wedding industry contributing to the economy? Let’s break it down- 1. Industry Size- The size of the wedding industry is a whopping 130 billion USD, making it one of largest industries in India. 2. Discretionary Consumption- This means non-essential goods and services. People can cut back on them, buy cheaper substitutes. But they still buy these goods at high prices. For example- Buying expensive clothes, jewellery, new appliances, cars, etc. 3. Gold Purchases- Weddings often witness purchasing gold quite a lot. So, an increased demand of gold during peak wedding seasons may rise the gold prices, which means more revenue for artisans and businesses. Reducing gold imports and other policy changes can increase the demand further. 4. Increasing trend of Destination Weddings- Choosing exotic locations for wedding often leads to increased demand for wedding planners, which further contributes to the economy. 5. Geographical and Cultural Variations- People in other countries might not be spending as much as Indians do. Differences in culture also leads to changes in consumption patterns. What do you infer when you think great grand weddings and the economy? Lemme know below :) #weddings #economics

The Economic opportunity around weddings in India: >The Confederation of All India Traders (CAIT) estimates that 4.8 million weddings will take place in India between November 12, 2024 and December 16, 2024: >Number of weddings: This is a significant increase from last year's 3.5 million weddings. >Economic impact: The weddings are expected to generate around Rs 6 trillion in business, which could mean revenue of $70.4 billion. >The next phase of the wedding season is expected to begin in mid-January 2024 and continue until July 2024. >The wedding season is expected to boost spending on: Food and beverages, Venue booking, Travel tickets, New outfits, and Gifts for the newlyweds. Whats the next thing you are buying to attend a wedding or for your own wedding 😊? #Wedding #retail #shopping #thoughtleadership *Data Source credit: Google AI.

Nothing captivated social media like the Ambani wedding from the past weeks. The grand event is a testament to India's thriving wedding industry. The Indian wedding market is booming, with an expected growth rate of 10-12% annually. This surge has caught the attention of businesses across sectors, from hospitality to fashion and jewelry. With an estimated value of $50 billion, the Indian wedding industry is a goldmine for entrepreneurs and established companies alike. From elaborate decor to designer outfits, catering to entertainment, every aspect of a wedding presents a business opportunity. But what's driving this growth? Rising disposable incomes, changing consumer preferences, and the desire for Instagram-worthy celebrations are key factors. The pandemic-induced backlog of weddings has further fueled this trend. As we witness this evolution, a question arises: What are your thoughts on the future of the Indian wedding industry? Will it continue to be a major economic driver? #IndianWeddings #WeddingIndustry #BusinessTrends #LuxuryMarket #EconomicGrowth #ConsumerBehavior #SocialMedia

Comparing the Wedding Industry in India and the USA India's Lavish Wedding Industry • High Costs: Average wedding costs INR 1.2 million ($14,400), over five times the GDP per capita. • Market Value: Valued at $120 billion with 8-10 million weddings annually. • Economic Boost: Drives significant spending in jewelry, apparel, and food sectors, impacting even automobiles and electronics. • Extravagance: Features luxury events with elaborate guest lists and high-profile performances. USA's Wedding Industry • Moderate Costs: Average wedding costs $35,000, about 0.4 times the GDP per capita. • Market Value: Valued at $70 billion, supporting a wide range of services. • Steady Impact: Contributes consistently to the economy year-round. Key Differences • Cultural Priorities: Indian weddings emphasize lavishness; US weddings are more economically balanced. • Economic Impact: India's wedding season drives intense sectoral activity, unlike the steady impact in the US. • Market Size: India's industry, despite lower GDP per capita, is nearly double the US's size. #businessconsulting #weddingindustry #weddingbusinesses #chartsdaily #dailycharts #chartoftheday #linkedin #igdaily #aryoconsulting #nationalweddingday

"India’s Wedding Season Fuels a Booming Economy!" The upcoming wedding season in India is set to be massive, with approximately 48 lakh weddings expected in just the next two months. This surge is projected to generate an astounding 6 lakh crore INR in business, according to CAIT. This remarkable season is more than just celebrations and ceremonies—it's a powerful driver for economic growth. The ripple effect touches multiple sectors: from retail, apparel, and jewelry to hospitality, event management, and travel. The sheer scale of this business influx underscores the economic significance of cultural traditions and their role in bolstering India’s GDP. This wave of festivities creates countless jobs, boosts local businesses, and revitalizes the entire supply chain, from small artisans to large enterprises. It's a vivid reminder of how tradition and commerce intertwine in India, fostering growth and opportunities across diverse industries. Wishing everyone a prosperous season ahead, as we witness how the celebration of love contributes to our nation’s economy!