Wedding industry suffers Rs 15-20 thousand crore loss due to corona

SATISH HANDA

Wedding industry in the country not only suffered loss worth Rs 2.5 crore but also provided severe financial crisis to related trade and industry including catering, sweets manufacturing, banquet hall, lighting, flowers, decorators, band, events, orchestra, DJ sound, photography and installation of diesel generating sets this year since most of the marriages were postponed due to spread of corona epidemic outbreak in the country when government imposed ban over gathering in marriages not to allow more than 50 guests in marriage ceremonies as a result wedding industry in the country not only suffered loss worth Rs 1 lakh crore but also made nearly 10 crore workers unemployed. Information reveals, wedding industry also adversely affected other miscellaneous trade and industries including cloth & costumes, jewellery, footwear, general merchandising, beauty culture, merchandising goods related to marriages.

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Ravi Jindal Senior Vice Chairman All India Tent Decorator Welfare Association said that trade & industry related to wedding industry provides business opportunities to nearly three lakh persons and employment to nearly 12 to 13 crore persons which is nearly 10% of total population in the country facing severe financial crisis at present in the absence of work since past about five to six months. He said, wedding industry in the country has already suffered heavy loss in the absence of marriage celebrations and may suffer further losses worth over Rs 1 lakh crore in case immediate relief and relaxations will not be provided by the government and large number of entrepreneurs in this business may collapse in approaching marriage season commencing from November 25 this years, besides crores of workers are likely to become unemployed.

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Jindal disclosed that nearly three crore businessmen in the country are involved in wedding business providing employments to nearly 12 crore people in celebration of nearly a crore marriages in a year. He said, association has submitted a memorandum to Union Home Minister as well as Tourism Minister Prahlad Patel demanding permission for gathering of 300-400 guests in marriage celebrations, easy availability of interest-free loans from banks to wedding industry enabling to re-establish their business.

Information also reveals that employment of nearly three lakh people has been affected in wedding industry in Haryana state having more than 40000 tent houses in the state most of these closed down their already closed down their shutters are on the verge of closure in the absence of marriages since asr several months. According to information, nearly five lakh marriages take place every year in the state doing business worth Rs 10000 crore every year

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