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Not just Ambani… other Indians also spend lavishly on weddings, this business is so big

Sagar Patel

By Sagar Patel

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Anant Ambani’s wedding will take place in July Image credit source: Instagram

The wedding season has begun once again. From decorated pandals on the streets of the country to grand five-star hotels, bookings have been made. The marriage of Anant Ambani, the youngest son of the country’s richest man Mukesh Ambani, to Radhika Merchant will also take place in the month of July. Two pre-wedding celebrations have also taken place. Spending lavishly on weddings is not just a habit of the Ambani family but also of us Indians. A lot of unique information has come to light in a report on the matter.

The size of the wedding industry in India is around Rs 10 lakh crore. This is the second largest market after food and groceries. This includes businesses ranging from cake shops to hotels, banquet halls, etc.

More money is spent on marriage than on education

A report by brokerage firm Jefferies claims that the marriage craze in India is so much that ordinary Indians spend more on marriage than on their children’s education. This is almost double their budget for graduation education. The report also says that in countries like the US, the cost of marriage is less than half that of education.

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Every year 80-1 crore marriages take place in India, while 70-80 lakh in China and 20-25 lakh in the US. India’s marriage industry is worth around Rs 10 lakh crore. This is almost double the US$70 billion (Rs 5.8 lakh crore). At the same time, the size of the wedding-related industry in China is about $170 billion (around Rs 14 lakh crore).

Second in terms of consumption.

The report says that in terms of consumption, weddings rank second in India. If marriage is considered as a category, then it is the second largest industry in India after the food and grocery industry. The size of the food industry in India would have been the second largest retail business category after about $681 billion (about Rs 56.8 lakh crore).

Weddings in India are grand and involve many types of ceremonies and expenditure. This increases consumption in categories such as jewellery and clothing and indirectly benefits the automotive and electronics industries. Indian weddings last for many days. These range from simple to very grand. Region, religion and economic background play a major role in this.

Weddings are grand in India

The government has made a lot of efforts to curb expensive weddings in the country. Prime Minister Narendra Modi also uttered the mantra ‘Wednesday in India’. Despite this, lavish weddings held in foreign locations continue to showcase Indian grandeur. With between 80 lakh and 1 crore weddings taking place every year, India is also the most popular wedding destination in the world. According to the CAT, its size is estimated at 130 billion dollars. The wedding industry in India is almost double that of the United States.

Sagar Patel

Sagar Patel

I am Sagar Patel, specializing in business news reporting. With a keen focus on economic trends, market analysis, and corporate developments,

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