Breaking the Bank: How Much Do Indians Really Spend on Weddings?
Breaking the Bank: How Much Do Indians Really Spend on Weddings?
Understanding the 1000000 Billion Rupees Industry
Indian weddings are known for their opulence, grandeur, and extravagance. They are a celebration of love and commitment, and often involve elaborate ceremonies and rituals that can last for several days. However, with all the pomp and show comes a hefty price tag. In this article, we will take a closer look at how much money Indians really spend on weddings, and explore the various factors that contribute to the high cost of these events.
"From elaborate ceremonies to grand receptions, Indian weddings are known for their extravagance, but just how much do they cost? Explore the eye-opening statistics on the soaring expenses of Indian weddings and discover the cultural, societal, and environmental factors driving this trend."
The Indian Wedding Industry
Before we dive into the details of wedding costs, it is important to understand the scale of the Indian wedding industry. According to a report by KPMG, the Indian wedding industry is estimated to be worth around ₹1 lakh crore (US$14 billion), and is expected to grow at a rate of around 25% per year. This is a significant contributor to the Indian economy, and provides employment opportunities for a large number of people, including wedding planners, caterers, decorators, photographers, and more.
Factors that Contribute to Wedding Costs
The cost of an Indian wedding can vary widely, depending on a variety of factors. Some of the key factors that contribute to the high cost of these events include:
Number of guests: Indian weddings are often large affairs, with hundreds or even thousands of guests in attendance. The more guests there are, the higher the cost of catering, decorations, and other expenses.
Venue: The choice of venue can have a significant impact on wedding costs. Popular wedding venues such as luxury hotels, banquet halls, and heritage properties can cost a significant amount of money.
Food and drinks: Indian weddings are known for their elaborate feasts, which can include a wide variety of dishes. The cost of catering for a large number of guests can be substantial.
Decorations: Indian weddings are often elaborate affairs, with extensive decorations and floral arrangements. The cost of decorations can add up quickly, especially if the wedding is held in a large venue.
Clothing and jewellery: Indian weddings are a time for dressing up in traditional attire and jewellery. The cost of wedding attire and jewellery can be substantial, especially for the bride and groom.
Photography and videography: Weddings are often captured on camera, with professional photographers and videographers hired to document the event. This can be a significant expense, especially if the couple wants high-quality photos and videos.
Entertainment: Indian weddings are often lively affairs, with music, dance, and other forms of entertainment. The cost of hiring musicians, DJs, and other performers can be substantial.
Case Studies
To get a better understanding of wedding costs in India, let's look at some cases where we spoke to some of our friends and their expense around it.
Case Study 1: Priya and Rohan
Priya and Rohan got married in Mumbai in 2019. They had a guest list of around 500 people, and the wedding was held in a luxury hotel. The total cost of the wedding was around ₹1.5 crore (US$200,000). Here's a breakdown of the costs:
Venue: ₹45 lakhs (US$60,000)
Food and drinks: ₹40 lakhs (US$54,000)
Decorations: ₹20 lakhs (US$27,000)
Clothing and jewelry: ₹25 lakhs (US$34,000)
Photography and videography: ₹5 lakhs (US$7,000)
Entertainment: ₹15 lakhs (US$20,000)
Case Study 2: Rakesh and Anjali
Rakesh and Anjali got married in Delhi
in 2020. They had a guest list of around 800 people, and the wedding was held in a heritage property. The total cost of the wedding was around ₹3 crore (US$400,000). Here's a breakdown of the costs:
Venue: ₹75 lakhs (US$100,000)
Food and drinks: ₹60 lakhs (US$80,000)
Decorations: ₹30 lakhs (US$40,000)
Clothing and jewelry: ₹40 lakhs (US$54,000)
Photography and videography: ₹10 lakhs (US$13,000)
Entertainment: ₹45 lakhs (US$60,000)
As we can see from these case studies, the cost of an Indian wedding can be substantial, and can easily run into crores of rupees. However, it is important to note that not all Indian weddings are this expensive, and many couples choose to have smaller, more intimate weddings.
Who is paying for all the expense the bride-side or the groom side ?
In India, the cost of weddings is typically shared by both the bride and groom's families. However, in some cases, one family may bear a larger share of the expenses depending on cultural and financial factors.
According to a survey conducted by Weddingz.in, a popular Indian wedding planning website, the average expense share for an Indian wedding is as follows:
Bride's family: 45%
Groom's family: 45%
Couple's own expenses: 10%
This is just an average and the actual expense share may vary depending on factors such as regional customs, family traditions, and financial situations.
It's worth noting that in recent years, there has been a trend towards more equitable expense sharing, with some couples opting to cover the entire cost of the wedding themselves. Additionally, some families are also choosing to have simpler, more intimate weddings, which can significantly reduce overall expenses.
What was the scenario in your case? Please let us know in the comment section
What do we find in various surveys and reports ?
Several research studies have been conducted on the cost of Indian weddings. Here what we found after going through those studies:
According to a survey by WedMeGood, the average cost of an Indian wedding in 2021 was around ₹10 lakhs (US$13,000), with costs varying widely depending on the city and type of wedding.
A study by ShaadiSaga found that the cost of a typical Indian wedding in 2020 ranged from ₹10 lakhs to ₹2 crores (US$13,000 to US$270,000), with the highest costs being in metropolitan cities such as Mumbai, Delhi, and Bangalore.
A report by KPMG found that the average cost of a wedding in India is around ₹10 lakhs (US$13,000), but can go up to ₹50 lakhs (US$67,000) or more for high-end weddings.
The average wedding expense for most of the population ranges around 15-20 lakhs across rural and urban areas. whereas people do tend to spend more thinking as one time auspicious occasions.
But how do most couple finance their marriages ?
There is limited data available on the percentage of Indians who use bank loans to finance their weddings. However, according to a survey conducted by Weddingz.in, a popular Indian wedding planning website, about 35% of couples opt for personal loans to finance their wedding expenses. Additionally, a report by the Reserve Bank of India (RBI) in 2019 stated that wedding loans are among the most popular forms of personal loans in India.However, taking a loan to finance a wedding can result in long-term financial implications and may lead to debt. It's crucial to consider the financial burden of a wedding and plan accordingly to avoid unnecessary financial strain.
Do we still give dowry/gifts?
Wait… what do we still give it? and the answer is…
Unfortunately, dowry still exists in some parts of India, despite being illegal since 1961 under the Dowry Prohibition Act. Dowry is the practice of giving money, gifts, or property to the groom's family by the bride's family at the time of marriage.
According to the National Crime Records Bureau, there were 7,277 dowry deaths and 30,618 dowry-related cases reported in India in 2018. However, it's important to note that many cases go unreported due to social stigma and fear of retribution.
Recent research indicates that the prevalence of dowry varies across different regions and communities in India.
A study conducted by the National Family Health Survey (NFHS) in 2015-16 found that the highest prevalence of dowry was in the northern states of India, with more than 60% of marriages involving dowry in some states.
Efforts to combat dowry have been ongoing in India, including awareness campaigns and legal action against offenders. However, changing social attitudes and addressing deeply ingrained cultural beliefs about gender and marriage will be necessary to eliminate the practice of dowry completely.
According to the National Family Health Survey (NFHS) data for the year 2015-2016, the prevalence of dowry varies across different regions and communities in India. The data indicates that the states with the highest prevalence of dowry are primarily located in the northern part of India.
The states with the highest prevalence of dowry were:
Haryana: 63.5%
Jammu & Kashmir: 47.3%
Himachal Pradesh: 42.7%
Punjab: 41.7%
Delhi: 39.9%
Uttar Pradesh: 36.3%
Bihar: 28.1%
Rajasthan: 25.5%
It's important to note that these statistics may not accurately reflect the true prevalence of dowry, as many cases go unreported due to social stigma and fear of retribution. Additionally, the NFHS data only covers women who are currently married, which may not capture the experiences of women who have been divorced or widowed due to dowry-related violence.
According to the National Family Health Survey (NFHS) data for the year 2015-2016, the southern states of India have a relatively lower prevalence of dowry compared to the northern states.
The states with the lowest prevalence of dowry were:
Tamil Nadu: 2.6%
Andhra Pradesh: 4.2%
Karnataka: 5.5%
Kerala: 5.7%
Telangana: 5.8%
However, it's important to note that even in these states, dowry still exists in some communities and instances. It's crucial to continue efforts to combat dowry across all regions of India, and to change social attitudes towards gender and marriage that perpetuate this harmful practice.
The dowry might have changed his form like instead of cash its requested as goods or as gold ornaments. It has also taken a new form as gifts to bride or groom. The dowry may depends on the social status of both family but generally it tends to exists in 90% of the arrange marriages.
if you are married did you give or take any type of gifts(dowry)? let us know in the comment
In conclusion, Indian weddings are known for their extravagance and opulence, and can come with a hefty price tag. The cost of an Indian wedding can vary widely, depending on a variety of factors, including the number of guests, venue, food and drinks, decorations, clothing and jewellery, photography and videography, and entertainment. While some couples choose to have smaller, more intimate weddings, many others opt for grand, elaborate celebrations that can run into crores of rupees. However, it is important to note that not all Indian weddings are this expensive, and couples should choose a wedding that is within their budget and reflects their values and priorities.