Nikhil Kamath says that 1 in 4 weddings globally are happening in India this Wedding Industry has big opportunity

Nikhil Kamath: Wedding season continues in India. According to a report, one out of every four marriages in the world takes place in India. To put it in other words, 25 percent of the world's marriages take place in India only. Indian families spend lakhs of rupees on weddings. For some people, marriage is a matter of showing status, while for others it is a means of displaying ambition. Whatever may be the reason, billions of rupees are spent on Indian weddings every year. However, Zerodha founder Nikhil Kamath calls it an uncool industry. He also believes that there is immense potential hidden in this wedding business.

Nikhil Kamat said- wedding industry is scattered

Nikhil Kamat discussed about Indian weddings in his recent social media post. He wrote that there are some big possibilities hidden in this industry. This industry is completely scattered. I don't even know the 5 big brands of this industry. Despite this, every year this industry does business worth billions of rupees. He also shared some statistics on Indian wedding business. These figures are from CAIT, The Knot Worldwide, Wedding Wishlist and Industry Forecast.

Wedding business was Rs 4.25 lakh crore

Nikhil Kamat wrote that in the year 2023, the business of weddings will be around Rs 4.25 lakh crore. There has been an increase of about 13 percent in comparison to the year 2022. India is the second largest market for weddings after America. According to estimates, the wedding industry is the fourth largest industry in the country. Since most of the transactions in weddings take place in cash. In such a situation, this industry may be much bigger than expected. There will be about 40 crore marriages in the country in the next 15 years. This figure is more than the total population of America.

Indians spend 12 years of their earnings on marriage

Nikhil Kamat wrote that on an average, Indian families spend Rs 20 lakh on weddings whereas our per capita income is only Rs 1.17 lakh. This means that he spends his 12 years' earnings on marriage. In India, 20 percent of loans are only for weddings. Besides, gifts worth about Rs 1 lakh crore are also given in weddings. Apart from this, food worth about Rs 10500 crore is also wasted during weddings.

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