Wedding-related businesses in Delhi are expected to surpass Rs 5,000 crore in one day as the national capital is witnessing around 21,000 marriages to coincide with Akshaya Tritiya — an auspicious day in the Hindu calender. It’s not just the couples who are feeling the joy — the wedding business is also seeing a boom, across a wide range of sectors including apparel, jewellery, food and catering, decoration, photography, transport, hotel bookings, event management, beauty salons, DJ services and floral services. Today, nearly all banquet halls, hotels and wedding venues in Delhi are fully booked. Meanwhile, hotel and banquet hall prices have surged by 10-15 per cent and most venues across the city are already fully booked, reflecting the massive wedding wave sweeping Delhi on Wednesday.

Notably, despite record prices, gold and silver trade across India touched a new high on Wednesday, on Akshaya Tritiya, a day considered auspicious in the country. According to the estimates of jewellery traders, gold sales alone were worth Rs 12,000 crore on Wednesday. Akshaya Tritiya, celebrated annually on the third day of the bright half of Hindu calender month Vaisakha, falls on Wednesday this year.

The Confederation of All India Traders (CAIT), has estimated Wedding-related businesses in Delhi are expected to surpass Rs 5,000 crore in one day.

The Chamber of Trade and Industry (CTI) estimated that the overall wedding-related business in the Delhi on Wednesday could exceed Rs 1,000 crore. “Rates of banquet halls and hotels have seen a 10-15 per cent increase due to high demand,” CTI Chairman Brijesh Goyal said. CTI General Secretary and gold trader Gurmeet Arora said that the gold and silver trade alone is expected to see a turnover of around Rs 200 crore. However, with gold prices at record highs, buyers are showing more interest in light-weight jewellery.

“The price of gold has risen significantly. Ten grams of gold is currently priced at around Rs 97,000, compared to Rs 73,500 on Akshaya Tritiya last year. As a result, traders are focusing on smaller, lighter gold and diamond jewellery pieces to meet customer demand,” Arora said.

Families are estimated to spend around 10 per cent of their wedding budget on clothing, 15 per cent on jewellery, and five per cent each on electronics, sweets and dry fruits. Gift items account for around four per cent of spending, according to Deepak Garg, Senior Vice-President of CTI. In the services category, five per cent of the budget typically goes to banquet halls and hotels, three per cent to management, 10 per cent to tent and decoration services, and another 10 per cent on other services such as catering, he said.

Flower decoration makes up four per cent of total expenses, while transportation, photography, and music-related services together account for about 15 per cent, he added.

According to the Confederation of All India Traders (CAIT), the prices of gold and silver have surged significantly this year. Currently, the price of 10 grams of gold has reached around Rs 1,00,000, compared to Rs 73,500 on Akshaya Tritiya last year. Similarly, silver prices have touched Rs 1,00,000 per kilogram, up from Rs 86,000 per kilogram in 2023. In 2023, Akshaya Tritiya witnessed jewellery sales worth approximately Rs 14,500 crore across the country, but the 2024 Lok Sabha elections have led to a noticeable dip in trade activity this year.

According to the latest data released by the World Gold Council, India’s gold demand in the first three months of the year (January-March 2025) stood at 118.1 tonnes, a 15 per cent drop from 139 tonnes in the same period last year.

According to mythological beliefs, on this day, Lord Shiva blessed Kubera with immense wealth and Goddess Lakshmi with the title of the goddess of fortune —making it one of the most auspicious days for buying precious metals.