Rupesh's frustration was evident for not being able to collect funds for his own marriage. He wanted to settle down in life with the girl from his village. But his alcoholic father had squandered away the family's savings, leaving him with the responsibility of repaying his father's debts.
The question was directed at the journalist seated in the backseat.
Rupesh's question, though simple, sparked a thought in the journalist's mind: How much money is actually required for a wedding today?
As if anticipating the journalist's curiosity, Rupesh quickly added, "Is the Yogi government offering loans for weddings? I heard from a friend that someone got a loan for their marriage, and that the UP Government also provides items like TVs and fridges as part of the deal."
The journalist, who had been tired from a long outstation assignment and was heading home from the airport that night, found himself intrigued by the query.
The next morning, he sat down at his computer to research the subject, uncovering some surprising facts.
India's wedding industry is a massive business, valued at $40 billion and growing at an annual rate of 17%. To put this in perspective, the global wedding market is worth approximately $372 billion, and India ranks second worldwide, just after the United States. In fact, one out of every four weddings in the world takes place in India.
According to a survey by the Confederation of All India Traders, the wedding business in India was estimated to be worth ₹5.5 lakh crore between January 15 and July 15 of this year.
This story is from the December 01, 2024 edition of The Business Guardian.
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This story is from the December 01, 2024 edition of The Business Guardian.
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