NEW DELHI : In the next one month, India will have around 38 lakh weddings and it can bring cheer to apparel retailers as well, as a big chunk of wedding expenditure is also set to go for clothing.
Traders’ body Confederation of All India Traders (CAIT) believes that retailers and traders across all the segments are expected to see Rs 4.74 lakh crore business during the period. In the similar season last year, around 32 lakh weddings took place that generated trade worth around Rs 3.75 lakh crore.
As per industry estimates, around 10 per cent of wedding expenditure is incurred on textiles and the amount can be around Rs. 40,000 crore
From top cities to Tier-3 and -4, all generate good business in this season.
At the same time from high end clothing, party wear to different products including innerwear to nightwear etc, nearly all kinds of products witness demand in wedding season.
As per an estimate drawn by CAIT after talking to prominent trade bodies of 30 various cities of different states, which are known as distribution centres and different stakeholders both in goods & services, it is estimated that around 38 lakh weddings will be solemnised across the country with a massive flow of about Rs 4.74 lakh crore by way of wedding purchases and procurement of various services by consumers having marriages in their homes.
Many apparel manufacturing hubs are also upbeat about the coming wedding season. For example, in Indore, the association of ready-made garments have pegged the annual sales of clothes in Indore to around Rs. 800-Rs. 1000 crore. Ready-made Textile Dealers Association President Mr. Ashish Nigam said, “This season seems much better than last year looking at the volume of orders and enquiries from retailers. Retailers from the outstation markets have started placing orders and units have ramped up production to meet the demand well in advance in the wedding season.”