Delhi Wedding Boom: Akshaya Tritiya Sparks Economic Surge

Delhi's wedding industry is expected to exceed Rs 1,000 crore in sales on Akshaya Tritiya, a major day in the Hindu calendar marked by 21,000 weddings. The surge benefits a variety of businesses, including banquet halls, caterers, and jewelry stores, amid soaring gold prices.

Wedding-related businesses in Delhi are gearing up for a massive economic boost on Akshaya Tritiya, an auspicious day in the Hindu calendar falling this Wednesday. The national capital is set to host around 21,000 marriages, propelling the industry's turnover to potentially exceed Rs 1,000 crore.

The Chamber of Trade and Industry (CTI) highlights that this day is one of the busiest in the wedding season, benefiting a host of sectors such as banquet halls, hotels, caterers, salons, decorators, and orchestras. With increased demand, prices for banquet services have seen a 10-15 percent hike, according to CTI Chairman Brijesh Goyal.

The gold and silver trade, specifically, is expected to generate around Rs 200 crore in revenue, even as gold prices surge. Lightweight jewelry options are gaining popularity due to the steep cost of gold, which is now priced at Rs 97,000 per ten grams, compared to Rs 73,500 last year. Families are allocating significant portions of their wedding budgets to items such as clothing, jewelry, electronics, and services like catering and decoration.

(With inputs from agencies.)