Elephants, Top Chefs And Mongolian Jewelry; Indian Weddings Are a $130 Billion Business

Indian Weddings: The cost of a lavish wedding in rich Indian families is between 200,000 and 400,000 dollars.

Anant Ambani, son of Indian billionaire Mukesh Ambani, will tie the knot with his fiancee Radhika Merchant in less than a week. Indians are no strangers to holding lavish weddings, but preparations and parties related to this special union have stunned India itself.

The astonishing guest list, which included everything from Silicon Valley billionaires to Bollywood stars, speaks volumes about Mukesh Ambani’s growing influence in the global economy.

Indian Weddings, Asia’s richest family flaunts its wealth with a display of jewels reminiscent of the bygone era of Maharajahs and Mughal emperors.

The Ambanis have set a new standard in the booming Indian wedding industry, which is likely to get even bigger and more luxurious as the number of super-rich people in the world’s largest and fastest-growing economy continues to grow.

Tim Chee, CEO of The Knot Worldwide, told CNN: “The Ambani weddings have had a multifaceted impact on the wedding industry in India; It has affected the way of holding, increased the demand for purchasing services and preparations for marriage ceremonies, promoted the cultural heritage of this country and even caused economic growth.

Indian Weddings, The wedding ceremony industry boomed after India emerged from the pandemic. According to last month’s report by Jefferies, an American multinational and independent investment bank, the turnover of this industry is currently estimated at 130 billion dollars, which is twice the size of the marriage industry in America; Of course, it is still smaller than China.

According to Jefferies, “Indians, known as a value-oriented society, love to spend on weddings, regardless of economic class.” The average cost of an Indian wedding ceremony is $15,000, which is more than three times the average annual household income.

Indian Weddings

The Wedding Ceremony Has Gone Beyond The Symbolic State

Indian Weddings, Wedding ceremonies are very important for Indians as a symbol of wealth and social status, and parents have always spent a significant part of their life savings on their children’s wedding ceremonies, but with the economic growth of India, these ceremonies have become much more important and bigger.

Seema Taparia and Aditya Motwane, marriage counselors, say that Indian marriages speak of power, the level of communication and familiarity, and the role of wealth. The rich Indians are now hosting huge events in exotic destinations around the world and inviting famous Bollywood actors or famous singers to perform at the event.

Indian weddings last several days and the average number of invited guests is 326, surpassing the average of 115 guests in the United States, according to Connect Worldwide. This rate increases exponentially when rich people and their relationships with famous people are involved. For example, in Ambani’s three-day wedding reception party, there were about 1,200 guests, including rich people like Bill Gates and Mark Zuckerberg.

Indian Weddings, The rich often spend millions of dollars on wedding ceremonies; The same thing that Ambani did in the pre-wedding parties with the performance of singers like Rihanna. With India set to become the world’s third largest economy by 2027, exotic weddings are also expected to increase. According to CNN, for example, an Indian couple wanted an elephant, which is considered a sacred animal in India, to be transferred to Monte Carlo so that they could pay their respects to him.

According to a report by a real estate consultancy, over the next five years (till 2028), the number of people with assets of at least $30 million in India is expected to increase by 50%, which is a very high figure. Also, due to the growth of the middle class in India, it is predicted that by 2030, about 600 million people will be in the middle class. This class of society can have more than 80% of the purchasing power of the entire country and spend it on lavish and abundant celebrations with an increase in income.

Indian Weddings

Rihanna, Dresses And Emeralds

Indian Weddings

Indian Weddings, The cost of a luxurious Indian wedding is on average between 200,000 and 400,000 dollars, which includes the cost of accommodation in five-star hotels, catering, stage design and entertainment, and sometimes the presence of Bollywood actors or international singers. Rihanna’s presence and performance at Ambani’s pre-marriage ceremony was one of these cases.

Of course, this estimate is Jeffries’s cost, excluding jewelry and clothes. India has one of the largest gold markets in the world, but the appetite for diamonds and other precious gems is also growing. The emerald necklace that Nita Ambani, the groom’s mother, wore during the March festivities stunned the media and social networks with its size and brilliance. This family has jewels, some of which date back to the Maharajahs and Mughal emperors.

Indian Weddings, On the other hand, no lavish Indian wedding is complete without lavish receptions, which are sometimes provided by flying the world’s best Michelin-starred chefs to India.

Local Economy

Indian Weddings, According to wedding planners, the rise of lavish celebrations abroad has caused discomfort and resentment for local communities.

In late May, the Ambanis held a four-day pre-wedding celebration in the form of a cruise that included performances by Katy Perry, the Backstreet Boys and Italian singer Andre Bocelli.

Indian Weddings, But not everyone was happy about it. According to media reports, the participants in the celebration angered the residents of the port city of Genoa, because the loud music had kept the residents of several areas sleepless until the morning.

However, the point is that such ceremonies also create income and employment in the region.

Indian Weddings, The Indian government is now trying to capture a bigger share of the revenue from luxury weddings. Narendra Modi, the Prime Minister of India, has launched a campaign called “Marriage in India” to encourage wealthy Indian families to hold marriage ceremonies within the country.

Also Read:

The Bridal Dresses Of Asia’s Richest Man In Legendary Pre-wedding Celebrations

An Invitation Of Gold And Silver; How Did The Ambanis Invite Their Guests?

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