Indian economy set to surge as fat weddings mark a post-Covid return

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The $50 billion Indian wedding industry is set to bounce back after it received a huge setback due to the Covid 19 outbreak. Estimates suggest that about 25 lakh weddings are expected to take place between November and December, which could easily translate into a Rs 3 lakh crore business.</p>
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This has brought much cheer to several industries in the country including the hospitality sector which has been one of the worst impacted due to the pandemic.</p>
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In Delhi alone, more than 1.5 lakh weddings are expected to take place this season, which is likely to generate a business of about Rs 50,000 crore, a statement by the Confederation of All India Traders (CAIT) said.</p>
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<strong>Also read: <a href="https://www.indianarrative.com/economy-news/will-pm-modi-rely-more-on-his-economic-advisory-council-to-lift-post-covid-economy-124608.html">Will PM Modi rely more on his economic advisory council to lift post-Covid economy?</a></strong></p>
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The US wedding industry is the biggest in the world.</p>
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Prior to the pandemic, the annual growth rate of this industry was estimated at over 20 per cent.</p>
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According to the Financial Express, in the pre-covid world, an average wedding in the country would span 2-3 days, with multiple events, hundreds of guests in attendance, and elaborate arrangements, averaging a cost of anywhere between Rs 2.5 and 3 lakh.</p>
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Consider this. In 2018, when Mukesh Ambani’s daughter Isha tied the knot with Piramal scion Anand Piramal, over 300 BMWs and Mercedeses, among other fancy cars, were transported to Udaipur for the pre-wedding celebrations. “Hotel rooms had dried up due to the guests and this even brought huge business opportunities to the local artisans and craftsmen,” an industry source told India Narrative.</p>
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“While many of us see Indian weddings as waste of resources, there are others who wait for such events to boost incomes,” he said.  </p>