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WEDDING EXTRAVAGANZA: HOW TO SPEND THE RIGHT WAY
The New Indian Express
|November 18, 2024
Mother of all wedding seasons is upon us. If you believe pundits (and we are talking to financial experts together), there are 30% more auspicious events in the 2024-25 season than ever. A report states that Delhi traders in the wedding business are worth ₹600,000 crore. That means households spend that amount, a colossal sum.
The Reserve Bank of India's report on the financial health of municipal corporations in India last year shows cumulative revenue reached a new high in the latest year. This amount is about one and a half times the money major cities like Delhi, Pune, Bengaluru, and others earn. According to another RBI statement, this money is part of the total household deposits.
People anticipate the high expenditure that weddings make for a lifetime event like this. The excitement was evident in a conference call involving India Hotels, the Tata company that owns and manages The Taj Group of Hotels and other brands, held recently. The word 'wedding' was mentioned several times in the conversation. The company looks to benefit from its presence at 125 locations in India and abroad. The word used was to create 'Instagram-able' moments for customers. That is just one example. There are so many elements in the wedding industry.
This story is from the November 18, 2024 edition of The New Indian Express.
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