HYDERABAD: Indian wedding market is expected to only grow further and get more organised, presenting opportunities to more new entrepreneurs and start-ups. While there are no verified estimates or studies till now on the exact size of the Indian wedding market, according to inputs from New Age wedding professionals, even by modest estimates, it might be well above Rs 50,000 crore.
“Spending on wedding is not a new thing in India. But what is changing is, it is getting more organised and professional, thus creating a new set of opportunities and professionals. Wedding photographers, wedding planners, digital media professionals and others are finding new opportunities. If we see the number of marriages happening every year and the money being spent on them, we can easily say that the market will run into thousands of crores. Several new players and start-ups are entering the field, increasing competition, but the market is big, everyone will have scope to grow,” said Anand Shahani, CEO and co-founder of WedMeGood.com portal, which offers all wedding-related services at one place.
Matrimonial websites like Bharatmatrimony.com, Shaadi.com and others have already become a huge hit with Indian families, and wedding websites like WedMeGood.com have been attracting not just visitors, but also investors.
“Especially in India, wedding is an important event for families. While Indians have always spent on weddings, the spending patterns and planning is undergoing a change. Weddings are becoming more creative, personal and trends like destination weddings are here to stay. This gives scope for professionals to plan and manage weddings. As a result, more and more young entrepreneurs are turning to this, and even investors are looking for promising start-ups working in the space,” said Devika Narain, who has been credited for planning the wedding of cricketer Virat Kohli and actor Anushka Sharma.