Story of India's Luxurious Wedding Culture
Rohit Jadhav
SMFG India Credit (MT-Risk Policy) II Protean e-Gov Technologies Ltd || 1st Rank in Business consulting competition- IIM Nagpur || Winner for developing a business plan at (SCIT), Pune || PGDM- Rural Management' 24
Indian weddings have undeniably transformed into extravagant and costly affairs over the years. The average cost of an Indian wedding now ranges from 10 lakhs to a staggering 5 crores, making it a significant financial commitment for families.
In fact, the wedding industry in India has grown to a whopping 13 lakhs crores, ranking as the country's fourth-largest industry. This trend towards excessive display is deeply rooted in Indian culture, with weddings holding immense cultural and social significance since ancient times.
However, the extravagant nature of Indian weddings gained momentum following India's colonization and economic growth. Liberalization in 1991 marked a turning point, as weddings began to focus more on showcasing capital and grandeur, often serving as status symbols within society.
Lavish spending on the best hospitality, wedding photographers charging between 50,000 to 2 lakhs, and a shift towards Instagrammable weddings with destination venues and theme-based celebrations became the norm. Brides started opting for celebrity makeup artists, while extravagant rituals became integral to the festivities.
This strong desire for luxury continued to escalate. Bridal attire costs soared, ranging from 15,000 to 4 lakhs, depending on designer labels and preferences. Wedding expenses further skyrocketed with the hiring of expensive choreographers, booking luxury hotels for parties, and organizing numerous social events. The competition to provide the most lavish hospitality to guests became a new measure of status. Indian weddings, seen as the most significant life event, often involve a multitude of guests.
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The Indian wedding industry encompasses various components, including catering, venues, gifts, decorations, event planning, logistics, honeymoon packages, photography, makeup, and invitations. Recent statistics show that in just two months of 2022, approximately Rs 3.75 lakh crores were spent on Indian weddings, underscoring the industry's remarkable growth rate of 25-30% annually.
Despite its immense size, the Indian wedding business remains largely unorganized, primarily due to the limited online presence of vendors. Moreover, the exorbitant cost of marriage, which can account for up to 20% of an individual's lifetime earnings, places significant financial strain, especially on the bride's family. Dowry deaths accounted for 40% to 50% of homicides in the country for almost a decade from 1999 to 2018.
In some cases, they may resort to taking loans to match the status of the groom's family, a practice that continues despite being officially banned. Furthermore, destination weddings, while extravagant, have led to issues related to budget constraints and waste management in certain locations.
Perhaps the most concerning aspect is the rising wedding budgets contrasted with the pressing issue of waste management. While more money is being spent on grand weddings, it also translates into increased food waste and environmental concerns. Nearly 40% of the food gets wasted at the weddings.
Meanwhile, India grapples with a growing population of undernourished people, raising questions about the social responsibility associated with such lavish celebrations. The increasing divergence between extravagant weddings and pressing societal needs is a challenge that Indian society must confront in the midst of this grand celebration.