Indians are fascinated with weddings. From curiosity regarding the bride’s dress to the groom’s dance, we love almost everything about this celebration of love. And when Indians marry, it is hardly a small affair.
Everyone is talking about Reliance Industries chairman Mukesh Ambani and his wife Nita Ambani’s youngest son Anant Ambani’s wedding to Radhika Merchant, daughter of pharma tycoons Viren and Shaila Merchant. The grand event is being covered by not just Indian media but also its international counterparts. While the focus is on the Ambani’s nuptial ceremony, there is an aspect of Indian weddings that should interest you.
The Indian wedding industry is valued at $130 billion, making it the second largest sector after food and grocery ($681 billion). No, we are not kidding! India’s big fat wedding market According to a recent Jefferies report, India’s wedding market is only second to food and groceries in terms of consumption. In fact, families spend more on weddings than education.
The average Indian wedding costs around $15,000 (about Rs 13 lakh), nearly twice the amount spent on a child’s education from pre-school to graduation. “Interestingly, an average Indian couple spends approximately 2x on weddings vs education (pre-primary to graduation), in sharp contrast to countries such as the US where the spend is less than half vs education,” the report noted. India’s wedding industry is about double the size of the US market but still smaller than .