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India's wedding economy over $130 billion in size, second only to groceries: Jefferies

Money Control · 11m

According to a Jefferies report, India's wedding industry has grown to $130 billion and is the second largest consumer-driven industry after food and groceries. The report highlights that the average Indian spends around Rs 12 lakh ($15,000) on a wedding, which is even higher than their spending on education. India hosts a large number of weddings annually, with strong regional preferences for categories such as jewellery, apparel, food, and beverages. The wedding industry also contributes significantly to sectors like catering, decoration, photography, and travel. Destination weddings are becoming increasingly popular, showcasing India's heritage locations as destinations for couples from around the world.