The Great Indian Wedding Bazaar
US$ 11 billion and growing at 25% annually - thats the Indian wedding market for you, with the average NRI couple spending anywhere between US$ 50,000 to US$ 100,000 (not counting the estimated US$ 55 million spent for the marriage of Lakshmi Mittal’s daughter).
Given the Indian propensity to spend on weddings, it is fast going the corporate route - indications are the emergence of niche malls catering to the wedding market such as Shagun in Kolkata, flourishing bridal magazines, bridal expos, online matrimonial websites, wedding planning services, destination weddings, dream weddings, etc.
Estimates for the online matrimonial market vary between Rs. 70 crores and Rs. 98 crores in 2006-07, with over 7 million users expected in 2006-07, with matrimonial and job classifieds forming almost 90% of the online classified market.
The Indian government estimates about 400 to 500 foreign couples travel to India each year to get married the Indian way, generating an estimated US$ 500,000. Is it because of the sanctity of the Indian wedding, or is it because a wedding in India would cost far less is anybody’s guess.
Filed under: Digital culture, Ideas & Innovations
According to the article at:
http://www.dnaindia.com/report.asp?newsid=1116880
its now worth Rs 1,25,000 crore