The Indian wedding industry is the second largest in the world, behind the US. Considered an important milestone for families, weddings are flamboyant affairs in India, so much so that an average Indian spends nearly one-fifth of their life’s earnings on weddings.
More than 10 Mn weddings take place in India each year, amounting to a staggering 30K weddings a day! The estimated market value of the Indian wedding industry is $50 Bn, with a growth rate of 30% per annum. As per data available, an average Indian spends an estimated one-fifth of his/her lifetime wealth on weddings.
With such huge stakes, it’s no wonder that Indian startups are gearing up to solve the problems in the wedding market, armed with the latest tech.
The changing trends, lifestyles and exposure to digital wedding solutions has changed how Indians view weddings these days.