Wedding industry will rain money, 68 crore people will get married in the coming years, business opportunities are immense

Union Tourism Minister Gajendra Singh Shekhawat on Friday said the wedding industry in India has immense potential and is poised to become a major driver of economic growth. Shekhawat was addressing a gathering after inaugurating the first ‘Wedding Tourism Summit and Exhibition’ organized by the industry body PHD Chamber of Commerce and Industry (PHDCCI). He said about 54 percent of India’s population is below 30 years of age. Besides, a major portion of family income in India is spent on weddings.

68 crore people will get married in the next few years

According to a statement issued by the industry body, the tourism minister said at the event, “If we consider the population aged 25 years and below, about 68 crore people in the country will be eligible to get married in the next few years. This creates immense potential for the wedding industry.” He said the wedding industry is set to become an important driver of the country’s economic growth.

‘Wade in India’ movement

“If we integrate tourism with the wedding industry and leverage the existing infrastructure, we can accelerate the growth of this sector manifold,” he said. In line with Prime Minister Narendra Modi’s vision of developing tourism in a mission mode, the ministry had in August last year launched an ambitious campaign to showcase India as a leading wedding destination on the global stage. Prime Minister Modi had said last year that the country needs a movement like ‘Wed in India’ on the lines of ‘Made in India’. PHDCCI President Hemant Jain said the grandeur of Indian weddings coupled with the growing trend of destination weddings offers immense tourism potential. “The global wedding industry is valued at $300 billion, of which India alone accounts for $50 billion and is growing at the rate of 20-25 percent annually,” Jain said.