Big fat Indian wedding: At ₹10 lakh crore, expenses second only to food & grocery

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.

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.

India sees 80 lakh to 1 crore weddings annually compared to 70-80 lakh in China and 20-25 lakh in the U.S. "The Indian wedding industry is nearly double the size of the industry in the U.S. ($70 billion), albeit smaller than China ($170 billion)," brokerage Jefferies said in a report.

Weddings are the second largest consumption category in India. "Weddings, if they were a category, would rank as the second largest retail category only behind food and grocery ($681 billion)," it said.

Weddings in India are elaborate and characterised by a range of ceremonies and spending. The industry spurs consumption in categories like jewellery and apparel and indirectly benefits autos and electronics. Despite political efforts to curb them, luxury weddings at exotic locations continue to showcase Indian opulence.

"With 8 million to 10 million weddings held annually, India is the largest wedding destination globally. Estimated at $130 billion in size, according to CAIT, the wedding industry is nearly twice that of the U.S. and is a vital large contributor to key consumption categories," Jeferries said.

Indian weddings are multi-day and multi-event celebrations, ranging from simple to ultra-lavish. The region, religion and economic background play an important role at several levels.

The Hindu calendar, which follows the lunisolar system, adds to the complexity, as weddings solemnise only on auspicious days in specific months, which changes every year, according to the report.