Weddings, in total, contribute around 32% of the entire events business in India. While the global wedding industry is valued at a staggering INR 372 billion, India contributes USD 42 billion and is growing at 17% annually over the last three years. Fuelled by government initiatives like the Wed in India campaign, the policies and active collaborations, India’s wedding market is poised to grow at humongous pace, said EEMA’s President, Samit Garg.
In a recent address at PHDCCI Wedding Tourism Expo, Samit Garg, President of the Event and Entertainment Management Association (EEMA), highlighted the immense growth potential of India’s wedding industry quoting over 3 times of growth in the next five years. Speaking to a gathering that included top officials from the Ministry of Tourism and the PhD Chambers of Commerce, Garg emphasised how weddings are set to become a major driver of the Indian economy, projecting a staggering INR 4 lakh crore in annual business.
With nearly 10 million weddings taking place in India each year, Garg predicted a 3.7x growth in the industry over the next five years. “If we focus solely on the money spent on wedding events, it amounts to nearly INR 1 lakh crores, which represents 26% of the overall event spend. Weddings, in total, contribute around 32% of the entire events business in India,” said Garg adding that the size of Wedding Business in India exceeds INR 4 lakh crores. However, this includes not just event management but also associated sectors like clothing, jewellery, and catering.
Garg pointed out that the globally, the wedding industry is valued at USD 372 billion, with the largest market being the United States, where spending reaches USD 80 billion. India follows with USD 42 billion, growing at 17% annually over the last three years. “Weddings are recession-proof,” said Garg. “Families in India often spend one-fifth of their lifetime savings on weddings, with budgets ranging from INR 1 lakh to INR 20 crores. With an average family size of five, and a population of 1.42 billion, India hosts 10 million weddings annually, of which 50,000 are organized by professional event companies.”
Having the right ingredients to become a global leader in wedding economy
On a global scale, Garg recalled a survey by respected research firm, which found that by 2028, the total size of the events industry is expected to surpass USD 1,550 billion. “After creating detailed spreadsheets, we found that the number translates to an astounding INR 1.25 crore lakh crore. Using simple metrics, as India is the seventh largest country and the fifth largest economy, anywhere from 10% to 20% of that global business could come to India.” Interestingly, the Government of India has emerged as the largest event spender in the country, with last year’s expenditure reaching INR 55,000 crores, shared Garg.
He added that the future looks even brighter for India’s wedding industry. According to him, the global wedding market is expected to grow by 2.7 times in the next five years. “In India, the industry could expand by 3.7 times, fuelled by government initiatives like the Wed in India campaign. This growth translates into a projected increase in event management opportunities, rising from INR 1 lakh crores to INR 3.5-4 lakh crores in the next five years.
The Wed in India campaign supported by the Govt. of India, aims to attract international weddings to India and encourage domestic weddings to remain within the country. “We have the right ingredients to become a global leader in the wedding economy,” said Garg.
Government & industry partnership
The EEMA President also discussed the critical role of government and industry collaboration. Last year, a draft wedding tourism policy, prepared by EEMA with the support of Deloitte, was presented to the then Tourism Minister and has since gained positive feedback. Garg urged for continued collaboration, highlighting the role of key industry bodies like PHD Chamber of Commerce, FICCI, CII, and the Congress of Regional Event Associations, which collectively represent 3,600 wedding companies across India.
He further spoke on how this growth can be sustained and enhanced and identified five key areas that need urgent attention including legitimising the wedding business to ensure greater transparency and formal recognition, uniformity in policy across states to facilitate smoother operations, technological integration for smarter, more efficient event management, sustainability, as the industry must align with global environmental standards and preserving cultural harmony, ensuring that India’s rich cultural heritage continues to be a focal point in weddings.
In closing, Garg made a direct appeal to the government, asking for guidance and support to elevate India’s wedding industry to a global scale.
“India, the 7th largest country by land and home to over 1.42 billion people, boasts a unique demographic advantage, with over 54% of its population under the age of 30. This demographic shift is driving the growth of the wedding industry. The country has become the largest consumer market in Asia and is now the 5th largest economy globally. The numbers tell a clear story—there is tremendous opportunity for growth. With the right framework and collaboration between the government and the private sector, India can become a world leader in the wedding economy,” he concluded.
