(Most) Indians literally won’t blink twice before burning their collective wallets for a somewhat decent wedding. Everything has to be perfect no matter what the guest size for engagements, weddings, and post-wedding receptions. Add to that the whole emotional barrage of ‘beti ki shaadi’ and the societal pressure appended with it. A single shaadi also drives the wheel of economy in India. The Indian wedding industry is worth Rs 10 lakh crore or $130 billion in size. It is only second to food and grocery consumption in India. The latest Jefferies report dubs weddings as the second largest retail category (if there’d be one) in India.
The Indian wedding industry size of approximately ₹10 lakh crore ($130 billion) is second only to food and grocery, with an average Indian spending twice on marriage ceremony than education, a report said.https://t.co/2S893VofUS
— The Hindu (@the_hindu) July 1, 2024
The sheer magnitude of weddings in India shows up in the following stat. Annually India witnesses around 80 lakhs to 1 crore weddings. Not so much in China (about 80 lakh) and the US (about 25 lakh). The Chinese ($170 billion), and the US ($70 billion) wedding industry pales in comparison. Average expense of a desi wedding can be as low as Rs 12 lakh to anywhere between what Bollywood celebs like Virat-Anushka or industrialists like the Ambanis would spend. Per Jeffreies, Indians spend twice as much on weddings than they do on education. In contrast the US spends half of their educational expenses on marriage.
Indian Wedding Industry 2nd In The World For Spend
The $130bn annual spend by Indians is only behind food & grocery ($681bn) for spending, brokerage company Jeffries report.
Globally India is just behind China, but is twice the size of the wedding industry in America.
Indians,… pic.twitter.com/sKHrZUbOj2
— RT_India (@RT_India_news) July 1, 2024
Indian wedding industry is wild
Study suggests the average wedding in India costs ~$15k
The average wedding in the US costs ~$30k
The US has 30x the GDP per capita of India but weddings cost only 2x! https://t.co/F35uwiNB4K
— Sheel Mohnot (@pitdesi) July 1, 2024
Indian wedding in the Berkshires pic.twitter.com/SEPtl580Km
— Jeff Bartell (@thejeffbartell) June 29, 2024
Shark Radhika Gupta shared an infographic by Edelweiss Mutual Funds earlier in March 2024. Per the Edelweiss stat, there are over 600 millions unmarried amongst the 1.4 billion population of India. Over 100 million are actively looking for suitors. India hosts a whopping 11-13 million weddings per annum. According to the data, a desi spends nearly one-fifth of his total wealth earned in lifetime on their wedding. *Gulp*
The big fat Indian wedding market! pic.twitter.com/gi8HlBcXCH
— Radhika Gupta (@iRadhikaGupta) March 17, 2024
The following scoop is from last year, around Diwali. With the general elections done and dusted and a fairly okay market, whaddya think would be the total revenue of 2024’s season of shaadis in India?
See Also: Indian Wedding Season Set to Generate Record-Breaking Business Worth Rs 4.25 Trillion Revenue: CIAT
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Big Fat Indian Wedding! pic.twitter.com/p4n5lrCZ19
— Tasty (@tasty) June 14, 2024
See Also: Why Deepika Padukone, Ranveer Singh Chose Not To Release Wedding Video Sooner? The Wedding Filmer Spills The Beans
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Cover: Pexels
