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Expect weddings to represent a $ 0.5 trillion market in India over 10 years: Matrimony.Com


The big Indian wedding is the center of attention as we enter the almost normal first wedding season after the pandemic.

Although this is a market that will continue to provide opportunities as long as there are humans in this country, but according to the investor update from Matrimony.com, India has 50 crore singles with annual applicants of over 6 crores. Even if 20 percent of it materializes per year, it results in a sustainable market of 1.1 to 1.3 crore of weddings in the country per year.

Over the past 2 years, many events have been postponed, and therefore this year has seen a huge increase in the number of weddings.

According to Praveen Khandelwal, national secretary general of CAIT, 25 lakhs of weddings are planned between November and December 2021 alone. In fact, CAIT sets this at Rs 3 lakh crores of business generation opportunity.

32% of the Indian population is between 20 and 39 years old. India’s median age is the lowest among heavily populated countries. Additionally, discretionary spending as a percentage of total spending has increased from 53 percent in fiscal 2012 to 60 percent in fiscal 20, making it an ideal market for the wedding industry to thrive. .

In an interview with CNBC-TV18, Murugavel Janakiraman, Founder and CEO of Matrimony.com, said: “According to my estimates, the wedding industry is around $ 80 billion to $ 100 billion in India. Marriage is one costliest individual events in an Indian’s life. Each year the average expenditure on Indian weddings increases and this is linked to the increase in disposable income. All of these factors therefore contribute to the increase in expenditure on Indian weddings. weddings. In my opinion, this roughly $ 100 billion industry can probably grow to $ 0.5 trillion in the next 10 years or so. “

Ajoy Chawla, CEO of Jewelry Division at Titan, said: “Right now there are a lot of pent-up marriage actions going on and they are expected to continue into the second half of the year. Another trend that we are seeing is that people are happy to spend on all kinds of wedding jewelry – studded jewelry as well as gold jewelry. So we’re seeing good traction for both. “

Watch the video for the full discussion.


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