look news india
Marriage is a big milestone in life. Everyone dreams of having a wedding like this in their life. Marriage is a festival in India. When a child is born, parents start saving money for his marriage. Every family spends lakhs of rupees on a wedding. Even the poorest families spend more than 50,000 on a wedding, even if they have to take a loan. Now don't ask about the wedding of rich people. Crores of rupees are spent on a wedding. These weddings in the country have become very important in terms of the country's economy. The wedding industry in India has grown from about $130 billion to 10 lakh crores.
The food and wedding market is the second largest market in the country after catering. When there is a wedding in a family, people from many fields get jobs. Small businesses like cooking, wedding hall, decoration are also busy. Capital market firm Jefferies has released a report on the Indian wedding industry. According to the report, the Indian wedding market is even bigger than the US market. According to the report, the wedding market in India is twice that of the US market. But it is less than the Chinese market, the report said.
A report by capital market firm Jefferies reveals how much is spent on weddings in India? If we count all expenses including jewelry and cooking, a wedding in India costs around Rs 12.5 lakh. Surprisingly, this is five times more than India's per capita GDP. The report says that the per capita GDP is Rs 2.4 lakh. In other words, the money spent on a wedding is more than the family's annual income. If a person's family income is four lakhs, the wedding expenses will be three times more.
A lot of money is spent on hotels, catering, decoration and entertainment in a luxury wedding. The report says that it will cost around Rs 20-30 lakh. This does not include the cost of jewelry and travel, clothing. According to the report, people spend the most on jewelry in weddings. Adra comes and cooks food. Thus, each of these two sectors gets 40 to 26 percent revenue. Events, photography, textile industry also generate huge amounts of income during weddings. The decoration sector is also not far behind. 10 percent of the income during the wedding is obtained from the decoration sector. Modi, who had earlier talked about Indian weddings, had called for destination weddings in India itself.