Delhi’s 21K Weddings Fuel ₹5,000 Cr Push for Industry Status

 

Delhi witnessed 21,000 weddings on Akshaya Tritiya (April 30), generating over ₹1,000 crore of direct business for banquet halls, caterers, and jewelers. However, the Chamber of Trade and Industry (CTI) pegs full-season allied spending (pre-wedding ceremonies, gifts, etc.) at ₹5,000 crore, reviving demands of "industry status" to avail tax rebates and easier financing.

 

Key takeaways:

 

Gold sales: Reached ₹200 crore in Delhi alone, with lightweight jewelry being in trend at record prices (₹99,450/10gm).

 

Budget allocation: 15% on jewelry, 10% on clothing, 10% on decorations, and 15% on transport/photography.

 

Policy boost: CTI calls for GST normalization and infrastructure development to cultivate the ₹5.9 lakh crore wedding economy of the country (CAIT estimate).

 

Sources: Economic Times, Upstox, CAIT