Delhi sees 21K weddings on Akshaya Tritiya; CAIT seeks ‘industry status’ as related spending to hit ₹5,000 crore | Company Business News

The Confederation of All India Traders (CAIT) on Wednesday urged the central government to grant “industry status” to the wedding sector, citing significant business activities across a wide range of related sectors, including apparel, jewellery, food and catering.

According to CAIT estimates, wedding-related spending on Wednesday alone is likely to exceed ₹5,000 crore in Delhi. The national capital is witnessing around 21,000 marriages to coincide with Akshaya Tritiya, an auspicious day in the Hindu calendar.

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“Weddings drive significant business activity across a wide range of sectors, including apparel, jewellery, food and catering, decoration, photography, transport, hotel bookings, event management, and floral services. Today, nearly all banquet halls, hotels, and wedding venues in Delhi are fully booked,” CAIT said in a statement.

Need for structured policy framework

Praveen Khandelwal, CAIT National Secretary General and Member of Parliament, stated that India’s wedding industry has now grown to over ₹10 lakh crore, yet it has not been officially recognised with industry status.

He stressed the need for structured policy frameworks, proper monitoring, and regulations to organise this vast sector and curb cash-based transactions.

Akshaya Tritiya is considered highly favourable in Hindu culture. It is believed to bring prosperity and weddings held on this day are thought to be especially blessed.

Khandelwal further said: “Granting industry status to the wedding sector and implementing regulatory oversight can bring more transparency and strength to the Indian economy.”

He also urged the central government to form a high-level panel to recognise the wedding sector, gather input from stakeholders, and formulate a comprehensive policy.

The traders association also sought simplified GST rates and norms for businesses in the wedding service industry and financial protection for small vendors and workers in the sector.

It further said that organising and formalising the wedding sector can ensure it makes a more “substantial and sustainable contribution to the national economy”.