Shaadi Inc. – The Economics of India’s Wedding Boom

They say love is priceless, but we’ve managed to put a price tag on it: a staggering ₹6.5 lakh crore.

Yes, India’s peak wedding season is upon us, sparkly, loud, and proudly over-the-top. But beyond the sangeet playlists and photo ops, it’s also an economic juggernaut.

In just 45 days, wedding spending touches everything from gold to hotels. Between November 1 and December 14, 2025, about 46 lakh (4.6 million) weddings are expected to take place in India, generating an estimated ₹6.5 lakh crore in business activity. Of these, roughly 4.8 lakh weddings are going to take place in Delhi, contributing ₹1.8 lakh crore.

To put this into perspective, this blitz alone accounts for almost 2% of India’s annual GDP. 

The Shaadi Economy

Just after the festive fever came the wedding fever, kicking off another massive consumer spend. 

Crucially, this 2025 wedding boom is bigger than ever. A report by the Confederation of All India Traders (CAIT) finds that the spending per wedding has jumped significantly. In total, Nov–Dec 2025’s wedding season spending (₹6.5 lakh crore) is up from about ₹5.9 lakh crore in 2024 and ₹4.74 lakh crore in a dramatic rise in just two years. Higher disposable incomes and even price inflation (e.g. in gold) have actually boosted outlays, rather than curbed them. 

Source: CAIT Report; Data compiled from peak wedding season, Nov-Dec period.

What’s Driving this Baraat?

One noticeable trend is “value + practicality” even in the midst of extravagance. With gold prices soaring (up over 60% since January), couples want jewellery that doubles as an investment with good resale value.

Reports suggest that jewellers saw a significant shift toward gold over diamonds, with buyers opting for 22k/18k ornaments (which have lower making charges and higher resale) instead of heavy diamond necklaces. 

Another 2025 talking point is the “Wed in India” push. Prime Minister Narendra Modi has urged affluent families to host weddings in India. Estimates suggest Indians were spending roughly ₹75,000 crore–₹1 lakh crore a year on weddings abroad; even retaining a slice of that spend is a clear win for India’s venues, hotels and tourism ecosystem.

Finally, consumer preferences show a mix of aspiration and pragmatism. Many couples are trimming guest lists slightly (quality over quantity of attendees), focusing spending on experiences, like themed décor or multiple cuisines, rather than just volume. There’s also the tech touch, from Instagram reels production to quirky e-invitations. According to CAIT, about 1–2% of wedding budgets now go toward content creation and social media, a segment growing 20–25% annually.

A Big Fat Wedding, Really?

The Indian wedding industry is often cited at around $130 billion per year (around the year). It’s said to be the fourth-largest industry in India by spending, and the second-largest wedding market in the world. However, the wedding industry is still smaller than China’s but almost twice as big as that of the US, according to a 2024 Jefferies report.

If we compare it to national GDP, India’s GDP is about $3.9–$4 trillion in 2024, so wedding-related spend is on the order of 3%+ of GDP in a given year. 

Source: Outlook Business

Indians are typically value-conscious shoppers. But weddings are the big exception. Jefferies estimated that the average spend per wedding in 2024 was about ₹12 lakh (~$14,500). That’s roughly 5x India’s GDP per capita (~$2,900) and over 3x the average annual household income (about ₹4 lakh).

Nevertheless, it’s a booming industry. Market researchers project steady growth in the coming years. For example, the Indian wedding services market (covering everything from event planning and catering to venues, excluding goods like jewellery) is expected to grow with a CAGR of ~14% forecast through 2030. At that pace, the wedding services segment alone could be a $228 billion market by 2030.

Wedding Sectors to Watch

From the moment the engagement happens to the final reception party, an Indian wedding sets off a chain of economic activity. It’s like a domino effect across industries. Let’s take a look:

Jewellery: Weddings account for roughly half of India’s jewellery demand. Average spending on jewellery per wedding is often in the ₹75,000– ₹1,00,000 range, especially in the urban middle-class segments.​

Apparel & Textiles: The wedding season can contribute about 15–20% of annual sales for clothing and ethnic-wear retailers. Organised fashion players typically see around 8–10% higher sales in key wedding quarters compared to off-season demand.​

Hospitality: Tariffs and banquet rates during peak shaadi season are often 20–30% higher than normal. Occupancy in popular wedding destinations can jump from baseline 60–65% to 75–80% or more, implying roughly 15–25% higher occupancy in peak weeks.​

Catering & Food Services: Food and catering can account for around 10–15% of total wedding budgets, making wedding-heavy months some of the most profitable for caterers. 

Beauty & Personal Care: Bridal makeup, grooming, and salon services see a clear wedding-season spike, with many artists and salons fully booked on auspicious dates. Bookings and revenue can be 10–20% higher in peak wedding months compared to regular periods, helped by bundled pre-wedding and wedding-day packages.​

Travel & Mobility: Destination and outstation weddings boost demand for flights, trains, and buses, adding a visible layer on top of usual travel flows. Airlines and surface transport can see roughly 5–10% higher passenger or booking volumes on key routes linked to wedding travel during peak season.

Source: CAIT

To Wrap Up

Net-net, weddings are not a “one-sector story”, but a multi-industry demand wave that lifts everything from gold and ethnicwear to hotels, salons, caterers, and travel.

What this means for investors: Instead of trying to pick a single “shaadi winner,” a more resilient approach is to think in baskets. Different parts of the wedding spend peak at different times, face different risks (input costs, pricing power, competition, seasonality), and can behave very differently in the market. The idea is to get diversified exposure to the overall theme rather than bet on just one winner. 

If you are interested in the sectoral ripple effects of India’s wedding boom, platforms like smallcase offer expert-curated model portfolios based on themes, strategies and ideas that help you spread your exposure across multiple potential beneficiaries.

Check out model portfolios based on stocks and ETFs, mutual funds and more on smallcase here.

Disclaimer: This analysis is for educational purposes and does not constitute investment advice. Market conditions can change, and past performance is not indicative of future results. Investors should conduct their own research and/or consult a certified financial advisor before making investment decisions.