India festive season sales set to hit record Rs 7 lakh crore, driven by wedding boom

Jaipur: India’s festive and upcoming wedding season is set to generate record sales exceeding Rs 7 lakh crore, according to the Bhartiya Udyog Vyapar Mandal (BUVM).

BUVM national president Babu Lal Gupta said markets across the country are witnessing a surge in consumption, projecting overall festive turnover at Rs 7.58 lakh crore across key sectors. The projections are based on a national market survey released by the trade body on Tuesday.

Gupta noted that strong consumer sentiment, preference for local products, and GST system improvements have fuelled retail and wholesale growth. The upswing spans across automobiles, real estate, groceries, jewellery, electronics, apparel, home décor, and dry fruits.

He added that small and medium manufacturers, especially in tier-2 and tier-3 cities, are seeing rising orders. Demand for traditional items such as clay diyas, earthen idols and handmade decorations has also risen, driven by customs and rural demand after harvest.

“Rural markets are showing equally strong sales momentum, supported by harvest income and wedding-related purchases,” Gupta said, adding that firecracker sales alone may cross Rs 10,000 crore in Uttar Pradesh.

According to BUVM estimates, the automobile industry leads the charge with Rs 1.30 lakh crore in projected sales, followed by real estate and construction materials at Rs 1.20 lakh crore. Essential commodities are expected to contribute around Rs 1 lakh crore, while electronics and jewellery each account for Rs 50,000 crore in turnover.

Other sectors, including utensils, kitchenware, footwear, home décor, lighting, brassware, and furniture, are also witnessing buoyant trade nationwide.

From metro markets such as Mumbai and Chennai to smaller northern cities, traders are experiencing brisk sales of festive goods and fireworks. The festive boom, which began with Navratri, is expected to sustain through the post-Diwali wedding season, anticipated to spur purchases in jewellery, garments, catering, and home decor.

BUVM’s turnover estimates were compiled by a special committee analysing data from key trade centres, including Delhi, Mumbai, Chennai, Ahmedabad, Bengaluru, Hyderabad, Jaipur, Chandigarh, Kanpur, Patna, Indore, Raipur, Ranchi, Haridwar, Tripura, and Cuttack, with local trader inputs shaping the national forecast.

With inputs from PTI